Wigniolle, Bertrand - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2012
This paper shows that it is possible to extend the scope of the existence of rational bubbles when uncertainty is … deterministic bubbles, when optimism may promote the existence of stochastic bubbles. Moreover, under pessimism, the RDU assumption …-optimality of the competitive equilibrium without bubbles. These conditions still govern the existence of bubbles. …