Speculation trading and bubbles kenneth j arrow lecture series jos scheinkman kenneth arrow patrick bolton joseph e stiglitz sanford grossman on amazoncom free shipping on qualifying offers as long as there have been financial markets there have been bubbles those moments in which asset prices inflate far beyond their intrinsic value. Speculation trading and bubbles jos e a scheinkman introduction stylized facts model remark on leverage additional evidence references plani 1 discuss some stylized facts concerning bubbles 2 present a very simple model for bubbles and argue that it ts these facts. Speculation trading and bubbles jos a scheinkman with kenneth j arrow patrick bolton sanford j grossman and joseph e stiglitz columbia university press
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