Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/55929 
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dc.contributor.authorKedar-Levy, Haimen
dc.date.accessioned2012-03-15T14:03:43Z-
dc.date.available2012-03-15T14:03:43Z-
dc.date.issued2007-
dc.identifier.citation|aJournal of Entrepreneurial Finance, JEF|c1551-9570|v12|h1|nThe Academy of Entrepreneurial Finance (AEF)|lMontrose, CA|y2007|p83-106en
dc.identifier.urihttp://hdl.handle.net/10419/55929-
dc.description.abstractThis paper presents an equity market where the value of a new technology is infrequently observable while the equity claim of the asset is continuously traded. We clear the stock market between two optimal asset allocation strategies, speculative vs. fundamental, adopted by risk-averse investors who differ in their risk-aversion. The stock price path maintains a potential for endogenous bubbles or under-pricing vs. the asset as a function of total funds invested in the stock by each investor type. Bubbles grow exponentially if speculation dominates but if the fundamental strategy dominates, the stock's growth rate and its volatility will decline.en
dc.language.isoengen
dc.publisher|aThe Academy of Entrepreneurial Finance (AEF) |cMontrose, CAen
dc.subject.ddc650en
dc.titleWhy would financial bubbles evolve after new technologies?-
dc.typeArticleen
dc.identifier.ppn663206847en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
econstor.citation.journaltitleJournal of Entrepreneurial Finance, JEFen
econstor.citation.issn1551-9570en
econstor.citation.volume12en
econstor.citation.issue1en
econstor.citation.publisherThe Academy of Entrepreneurial Finance (AEF)en
econstor.citation.publisherplaceMontrose, CAen
econstor.citation.year2007en
econstor.citation.startpage83en
econstor.citation.endpage106en

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