Developing a narrative perspective of asset bubbles

Asset bubbles are both widely studied and commonly occurring market events, yet they remain a poorly understood phenomenon from both a theoretical and practical standpoint. We argue that prior research has failed to put forward a robust theory or framework of asset bubbles due in part to the oversight of a central aspect of all bubble episodes, that being the role of narratives. In response to this oversight, we develop an alternative, narrative perspective of asset bubbles, a perspective that we believe offers a rather comprehensive account of these events that should help to not only synthesize much of current literature but also inspire a range of future studies