This paper discusses the existence of a bubble in the pricing of an asset that pays positive dividends. I show that rational bubbles can exist in a growing economy. The existence of bubbles depends on the relative magnitudes of risk aversion to consumption and to wealth. Furthermore, I examine how an exogenous shock in technology might trigger bubbles
This paper reviews a model of bubbles under the assumption of heterogeneous rational traders. In the...
Latex 27 pages with 3 eps figureWe study and generalize in various ways the model of rational expect...
This paper presents an equity market where the value of a new technology is infrequently observable ...
This paper discusses the existence of a bubble in the pricing of an asset that pays positive dividen...
This paper explores the existence of rational bubbles in the pricing of an asset that pays no divide...
A rational bubble would involve a self-confirming belief that an asset price depends on information ...
We provide a theory of rational stock price bubbles in production economies with infinitely lived ag...
This paper provides a fairly systematic study of general economic conditions under which rational as...
It is often argued that a rational bubble, because it is positive, must increase the price of a stoc...
We develop a model of rational bubbles, based on the assumptions of an unknown potential market size...
International audienceThis paper shows that it is possible to extend the scope of the existence of r...
This paper provides a fairly systematic study of general economic conditions under which rational as...
We develop a parsimonious model of bubbles based on the assumption of imprecisely known market depth...
URL des Documents de travail : http://ces.univ-paris1.fr/cesdp/cesdp2016.htmlDocuments de travail du...
This paper studies the interactions between rational bubbles and product market competition. It offe...
This paper reviews a model of bubbles under the assumption of heterogeneous rational traders. In the...
Latex 27 pages with 3 eps figureWe study and generalize in various ways the model of rational expect...
This paper presents an equity market where the value of a new technology is infrequently observable ...
This paper discusses the existence of a bubble in the pricing of an asset that pays positive dividen...
This paper explores the existence of rational bubbles in the pricing of an asset that pays no divide...
A rational bubble would involve a self-confirming belief that an asset price depends on information ...
We provide a theory of rational stock price bubbles in production economies with infinitely lived ag...
This paper provides a fairly systematic study of general economic conditions under which rational as...
It is often argued that a rational bubble, because it is positive, must increase the price of a stoc...
We develop a model of rational bubbles, based on the assumptions of an unknown potential market size...
International audienceThis paper shows that it is possible to extend the scope of the existence of r...
This paper provides a fairly systematic study of general economic conditions under which rational as...
We develop a parsimonious model of bubbles based on the assumption of imprecisely known market depth...
URL des Documents de travail : http://ces.univ-paris1.fr/cesdp/cesdp2016.htmlDocuments de travail du...
This paper studies the interactions between rational bubbles and product market competition. It offe...
This paper reviews a model of bubbles under the assumption of heterogeneous rational traders. In the...
Latex 27 pages with 3 eps figureWe study and generalize in various ways the model of rational expect...
This paper presents an equity market where the value of a new technology is infrequently observable ...