Overview: Provides wide-ranging and thorough explanations of how and why bubbles and crashes have historically evolved and are tied to money, credit, trust, psychology, risk preferences, behavioral finance, andEconomists broadly define financial asset price bubbles as episodes in which prices rise with notable rapidity and depart from historically established asset valuation multiples and relationships. Financial economists have for decades attempted to study and interpret bubbles through the prisms of rational expectations, efficient markets, and equilibrium, arbitrage, and capital asset pric
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