traders and cash triggers bubbles ("inflow-effect"). (ii) In treatments with trader and cash inflow only in the first half of … bubbles in almost all of the 24 markets with trader inflow. The analysis of traders' beliefs reveals that (iii) despite … motive only among the optimists in treatments where we observe bubbles. …

The paper develops a model of bubbles that can be taken to the data and explain the behavior of asset prices and their …

We study the emergence of bubbles in a laboratory experiment with large groups of individuals. The realized price is … findings are: (i) large asset bubbles occur in large groups, (ii) information contagion through news affects behaviour and may … and crashes, and (iv) bubbles are strongly amplified by coordination on trend-extrapolation …

depends on a time-scale. We use this hitherto neglected aspect to propose a new definition of bubbles that does not rely on …, bubbles are a violation of market efficiency with respect to its time-scale …

We propose an extension of the class of rational expectations bubbles (REBs) to the more general rational beliefs … beliefs can thus account for speculative bubbles, without the need for irrational agents or limits to arbitrage. Many of the … shortcomings of REBs that make rational bubbles implausible can be overcome once we relax the ergodicity requirement. In particular …

We propose an extension of the class of rational expectations bubbles (REBs) to the more general rational beliefs … beliefs can thus account for speculative bubbles, without the need for irrational agents or limits to arbitrage. Many of the … shortcomings of REBs that make rational bubbles implausible can be overcome once we relax the ergodicity requirement. In particular …

". We observe both stable markets and large bubbles for both small and large markets. The data analysis shows no differences … successfully drives prices back towards the fundamental, but we observe very large bubbles in which the news apparently has no …

bubbles is also tackled. In the first part, we prove the equilibrium existence in a truncated bounded economy through a fixed … part, we show the impossibility of bubbles in a productive economy and we give sufficient conditions for equilibrium …