Abstract
This curious speculation in tulip bulbs near four centuries ago has become a modern synonym for and warning about the irrational speculation that may break out in any asset market. Nevertheless, a look at the forces that actually drove it provides an alternative, fundamental explanation and a warning to observers of asset markets not to accept so quickly unprovable psychological explanations of asset prices.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsBibliography
Cooper, P. 1970. New Cambridge modern history, volume 4: The decline of Spain and the Thirty Years’ War, 1970. Cambridge: Cambridge University Press.
Garber, P. 2000. First bubbles: The fundamentals of early manias. Cambridge, MA: MIT Press.
Kindleberger, C. 1996. Manias, panics and crashes: A history of financial crises. 3rd ed. New York: Wiley.
Mackay, C. 1852. Extraordinary popular delusions and the madness of crowds. Vol. 2. 2nd ed. London: Office of the National Illustrated Library.
Posthumus, N. 1929. The tulip mania in Holland in the years 1636 and 1637. Journal of Economic and Business History 1: 434–466.
Schama, S. 1987. The embarrassment of riches. New York: Alfred Knopf.
Author information
Authors and Affiliations
Editor information
Copyright information
© 2018 Macmillan Publishers Ltd.
About this entry
Cite this entry
Garber, P. (2018). Tulipmania. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1496
Download citation
DOI: https://doi.org/10.1057/978-1-349-95189-5_1496
Published:
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-95188-8
Online ISBN: 978-1-349-95189-5
eBook Packages: Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences