Can Markets Learn to Avoid Bubbles

摘要: One of the most striking results in experimental economics is ease with which market bubbles form a laboratory setting and difficulty preventing them. This article re-examines bubble experiments light an earlier series that show how learning occurs markets characterized by asymmetry information between buyers sellers, such as found Akerlof's lemons model Spence's signaling model. Markets asymmetric are incomplete because they lack for specific levels product quality. Such either lump all qualities together (lemons) or using external indications quality to separate them (signaling). Similarly, used lacking complete set forward futures markets, depriving traders supplied prices those markets. Preliminary suggest addition single can sometimes m...