that low economic growth propagates bubbles. Further exploration of the cyclicality in the bubbly asset shows that its …

We investigate the role played by the anchoring-and-adjustment heuristic in the speculative bubbles dynamics. In order … bring the evidence that large speculative bubbles can only occur when fundamental traders highly anchor to stock market … with slowly mean reverting bubbles lasting many years …

timing bubbles and crashes of individual stocks. Our findings imply that sophisticated investors may not always trade against … rational speculative bubbles, not entirely from sentiment-driven overpricing …

This paper argues that short selling might give rise to bubbles that would otherwise not exist in equilibrium. It is …

The risk and return trade-off, the cornerstone of modern asset pricing theory, is often of the wrong sign. Our … speculative positions is smaller. We confirm our theory using a measure of disagreement about stock market earnings …

bubbles in stock prices in a model in which stockholders have …rules out the existence of negative rational bubbles. The …