Bubble Dynamics

  • Harold L. Vogel


Risk premiums, exponentiality, equilibrium concepts, elasticity, and trading volume characteristics provide the foundation for a new approach in which extreme market events are driven by short-side rationing, as emphasis increasingly shifts from prices received or paid to quantities held or not held. In economics and finance the notion of equilibrium is fictional and useless.


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Authors and Affiliations

  • Harold L. Vogel
    • 1
  1. 1.New YorkUSA

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