Market depth, leverage, and speculative bubbles
We develop a model of rational bubbles based on leverage and the assumption of an imprecisely known maximum market size. In a bubble, traders push the asset price above its fundamental value in a dynamic way, driven by rational expectations about future price developments. At a previously unknown da...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Dokumenttyp: | Book/Monograph Arbeitspapier |
| Sprache: | Englisch |
| Veröffentlicht: |
Bonn
ECONtribute
[2021]
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| Schriftenreihe: | ECONtribute discussion paper
no. 058 (January 2021) |
| In: |
ECONtribute discussion paper (no. 058 (January 2021))
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| Schlagworte: | |
| Online-Zugang: | Verlag, kostenfrei: https://selten.institute/RePEc/ajk/ajkdps/ECONtribute_058_2021.pdf Verlag, kostenfrei: https://econpapers.repec.org/RePEc:ajk:ajkdps:058 Resolving-System, kostenfrei: http://hdl.handle.net/10419/228861 
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| Verfasserangaben: | Zeno Enders, Hendrik Hakenes |
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