Risk premiums, exponentiality, equilibrium concepts, elasticity, and trading volume characteristics provide the foundation for a new approach in which extreme market events are driven by short-side rationing, as emphasis increasingly shifts from prices received or paid to quantities held or not held. In economics and finance the notion of equilibrium is fictional and useless.
CITATION STYLE
Vogel, H. L. (2018). Bubble Dynamics. In Financial Market Bubbles and Crashes, Second Edition (pp. 299–336). Springer International Publishing. https://doi.org/10.1007/978-3-319-71528-5_8
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