Extrapolation and Bubbles
收藏NBER2016-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w21944
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资源简介：
We present an extrapolative model of bubbles. In the model, many investors form their demand for a risky asset by weighing two signalsan average of the assets past price changes and the assets degree of overvaluation. The two signals are in conflict, and investors waver over time in the relative
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美国国家经济研究局创建时间：
2016-02-01
