Global financial crises, which can stem from the bubbles in asset prices and which have been observed especially in the … United States and Europe, have demonstrated once again how important the determination of bubbles is. The bubbles in question … rational bubbles with financial crises, the analysis and detection of them become even more important for investors, portfolio …

asset market bubbles occur in all sessions, but global markets had significantly more extreme and longer duration valuation … bubbles. Additionally, subjects at the most suboptimal times-of-day held significantly more asset shares in their portfolios …

We develop a model of rational bubbles based on leverage and the assumption of an imprecisely known maximum market size … lend to traders with limited liability in a bubble is endogenous. Bubbles reduce welfare of future investors. We provide … general conditions for the possibility of bubbles depending on uncertainty about market size, traders' degree of leverage and …