Ryan, Matthew; Vaithianathan, Rhema; Rigotti, Luca - Faculty of Business, Auckland University of Technology - 2014
An investment bubble is a period of excessive, and predictably unpro
table, investment(DeMarzo, Kaniel and Kremer, 2007, p.737). Such bubbles most often accompany the arrival of some new technology, such as the tech stock boom and bust of the late 1990s and early 2000s. We provide a rational...
