Core Building Blocks

Nikhilesh Dholakia and Romeo V. Turcan
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Romeo V. Turcan: Aalborg University

Chapter 2 in Toward a Metatheory of Economic Bubbles: Socio-Political and Cultural Perspectives, 2014, pp 9-21 from Palgrave Macmillan

Abstract: Abstract This chapter outlines, discusses, and exemplifies the core constructs—building blocks—of our emerging metatheory of bubbles. Since bubbles are about the perceived values of assets, our starting building blocks related to assets. Regardless of the type of asset, three core asset-linked dimensions are important for bubbles to form, to inflate (often rapidly and dramatically), and eventually to burst; these are perceived asset availability, perceived asset value, and perceived asset communication. We conclude this chapter by comparing four asset types: entertainment (such as movies), commodities (such as minerals or agricultural commodities), financial stocks (such as shares of technology companies), and housing (such as real estate values in a metro area) and analyze the transcending properties of these three dimensions: those affecting availability of an asset; those affecting valuation of an asset; and those affecting communications about an asset.

Keywords: asset availability; asset bubbles; asset communication; asset type; asset value; metatheory of bubbles (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-36179-0_2

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DOI: 10.1057/9781137361790_2

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