Simple Finite Horizon Bubbles Robust to Higher Order Knowledge

John Conlon

Econometrica, 2004, vol. 72, issue 3, 927-936

Abstract: An asymmetric information model of a finite horizon "nth order" rational asset price bubble is presented, where (all agents know that)-super-n the asset is worthless. Also, the model has only two agents, so the first order version of the bubble is simpler than other first order bubbles in the literature. Copyright The Econometric Society 2004.

Date: 2004
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