Famous first bubbles¶
Garber, P. M. (1990). Famous first bubbles. Journal of Economic Perspectives, 4(2), 35-54.
Cited by¶
1 citation across 1 artifact.
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Primes¶
- Speculative Bubble
- The prime does not claim that rapid appreciation is evidence of a bubble; it claims that a bubble exists when the rise is driven by the expectation of further rise rather than by the underlying value, a distinction Garber (1990) presses hard in arguing that some historical "manias" may have had defensible fundamental explanations.
This sourcePresses the case that some historical "manias" (tulips, Mississippi, South Sea) may have had defensible fundamental explanations, sharpening the distinction between a true bubble and a fundamentals-driven rise.
- The prime does not claim that rapid appreciation is evidence of a bubble; it claims that a bubble exists when the rise is driven by the expectation of further rise rather than by the underlying value, a distinction Garber (1990) presses hard in arguing that some historical "manias" may have had defensible fundamental explanations.
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