What causes asset bubbles? Noah Lucas
Most econ models are still based on rational expectations, the idea that people don’t systematically make errors when forecasting the future,
A small but increasing number of papers are asking how markets would behave if investors improperly extrapolate recent trends into the future.
Noah Smith, Bloomberg 8 December 2016
A small but increasing number of papers are asking how markets would behave if investors improperly extrapolate recent trends into the future.
Noah Smith, Bloomberg 8 December 2016
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