We analyze a controlled price formation experiment in the laboratory that shows evidence for bubbles. We calibrate two … models that demonstrate with high statistical significance that these laboratory bubbles have a tendency to grow faster than …

We extend the rational speculative bubbles literature to the frontier emerging stock markets. For this purpose, this … show strong evidence of rational speculative bubbles in the frontier emerging stock markets …

Speculation, in the spirit of Harrison and Kreps [1978], is introduced into a standard real business cycle model … generated by speculation for any model of beliefs - a factor of 1.5. A calibration based on diagnostic beliefs amplifies hours …