Article ID Journal Published Year Pages File Type
7359151 Journal of Economic Theory 2018 32 Pages PDF
Abstract
We show that there exist models with rational agents, three periods, and five states of the world, which have a strong bubble in one of these states. However, no finite-horizon rational strong bubble model, with standard Walrasian markets, can have fewer than five states.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
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