Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/55929
Full metadata record
DC FieldValueLanguage
dc.contributor.authorKedar-Levy, Haimen_US
dc.date.accessioned2012-03-15T14:03:43Z-
dc.date.available2012-03-15T14:03:43Z-
dc.date.issued2007en_US
dc.identifier.citation|aJournal of Entrepreneurial Finance, JEF |c1551-9570 |v12 |y2007 |h1 |p83-106en_US
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_US
dc.language.isoengen_US
dc.publisher|aThe Academy of Entrepreneurial Finance (AEF) |cMontrose, CAen_US
dc.subject.ddc330en_US
dc.titleWhy would financial bubbles evolve after new technologies?en_US
dc.typeArticleen_US
dc.identifier.ppn663206847en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

Files in This Item:
File
Size
386.04 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.