Speculative Bubbles - Publications - Faculty & Research - Harvard Business School

Filter Results: (22)

Filter Results: (22)

Show Results For

Page 1 of 22 Results →

September 2021
Article

Diagnostic Bubbles

By: Pedro Bordalo, Nicola Gennaioli, Spencer Yongwook Kwon and Andrei Shleifer

We introduce diagnostic expectations into a standard setting of price formation in which investors learn about the fundamental value of an asset and trade it. We study the interaction of diagnostic expectations with two well-known mechanisms: learning from prices and... View Details

Keywords: Bubble; Speculation; Diagnostic Expectations; Price Bubble; Mathematical Methods

Find at Harvard

2018
Working Paper

Diagnostic Bubbles

By: Pedro Bordalo, Nicola Gennaioli, Spencer Yongwook Kwon and Andrei Shleifer

We introduce diagnostic expectations into a standard setting of price formation in which investors learn about the fundamental value of an asset and trade it. We study the interaction of diagnostic expectations with two well-known mechanisms: learning from prices and... View Details

Keywords: Bubbles; Price Bubble; Mathematical Methods

March 2012 (Revised October 2012)
Case

Hayman Capital Management

By: Robin Greenwood, Julie Messina and Jared Dourdeville

In late December 2011, Hayman Capital founder and portfolio manager Kyle Bass was reviewing Japanese government budget projections for 2012. The projections appeared contrary to Hayman Capital's views on Japan, where the fund had built a bearish position. Japan had the... View Details

Keywords: Investment Management; Speculative Bubbles; Japan; Government Policy; Financial Management; Price Bubble; Credit; Financial Strategy; Behavioral Finance; Government and Politics; Macroeconomics; Financial Services Industry; Japan

March 2011 (Revised April 2011)
Case

Gold in 2011: Bubble or Safe Haven Asset?

By: Robin Greenwood and Benjamin Steiner

Case explores the pricing of gold in 2011. Is the pricing justified or are we in a speculative bubble? What data are useful in determining a view on this question? View Details

Keywords: Inflation and Deflation; Money; Asset Management; Investment; Price Bubble; Policy; Risk Management

January 2003 (Revised September 2007)
Background Note

A Note on Racing to Acquire Customers

By: Thomas R. Eisenmann

Examines factors that motivate a firm's race to acquire customers in newly emerging markets and explores conditions under which racing strategies are likely to yield attractive returns. Provides a definition of racing behavior, introduces the notion of an optimal level... View Details

Keywords: Customers; Price Bubble; Network Effects; Emerging Markets; Market Entry and Exit; Behavior; Competition

09 Jan 2006
Research & Ideas

Rebuilding Commercial Real Estate

generating fewer new jobs than in previous recoveries, no one sees much chance of a speculative building bubble for office space. "New construction just hasn't gone crazy like it did in the '80s,"... View Details

Keywords: by Roger Thompson; Construction; Real Estate

April 2009 (Revised December 2015)
Case

Dot.com: Online Pet Retailing

By: Tom Nicholas and David Chen

From 1995 to 1999, the U.S. experienced a period of tremendous growth in its information technology (IT) sector. The IT industry, although it accounted for less than 10% of the U.S. economy's total output, contributed disproportionately to economic growth. One market... View Details

Keywords: Entrepreneurship; Price Bubble; Growth and Development Strategy; Failure; Competitive Strategy; Online Technology; Retail Industry

Web

Behavioral Finance & Financial Stability

Bubbles for Fama By: Robin Greenwood , Andrei Shleifer & Yang You FEB 2017 Authors Greenwood, Shleifer, and You evaluate Eugene Fama's claim that stock markets do not exhibit price bubbles using US and... View Details

06 Oct 2003
Research & Ideas

The Problem with Hedge Funds

are turning to the banks, which are directing investors' money into places as speculative as dot-com and telecom stocks. But this time the destruction of investors' value isn't likely to take the form of a large run-up in share prices... View Details

Keywords: by D. Quinn Mills

04 Feb 2002
Research & Ideas

How To Do Business in Islamic Countries

an easier time abroad, they said. According to Hayes, the following principles of comportment are expected among businesspeople: Contracts should be fair to all parties. Partnership is preferred over hierarchical claims. Speculation is... View Details

Keywords: by Martha Lagace

Web

Research - Behavioral Finance & Financial Stability

See Johannes’ other research here and Victoria’s other research here . More Info Diagnostic Bubbles By: Pedro Bordalo , Nicola Gennaioli , Spencer Kwon & Andrei Shleifer SEP 2021 The financial crisis of 2007–2008 has revived academic... View Details

Web

Bankers, Financiers, and Statesmen - Coin and Conscience

ill-fated Mississippi Company. He merged this huge stock company with the royal bank and took over the public debt and administration of revenue. In 1720, a rash of speculation in land swept France, setting off frenzied selling at high... View Details

01 Mar 2010
News

Déjà Vu All Over Again

crises shares defining features of a speculative bubble followed by a crash, but they emerged in idiosyncratic ways. I’m not sure you can ever figure out a tried-and-true pattern,” says Caitlin Anderson, the... View Details

Keywords: Colleges, Universities, and Professional Schools; Educational Services

15 Aug 2016
Research & Ideas

Black Swans and Big Trends Can Ruin Anyone's Internet Prediction

how we thought about online opportunities one year after the dot-com bubble burst. In retrospect, many of my thoughts about the internet’s future evolution missed the mark. If you think history repeats itself, then these forecasting... View Details

Keywords: by Thomas R. Eisenmann; Technology

Web

Preface - Coin and Conscience – Baker Library | Bloomberg Center, Historical Collections

corruption, poverty, charity, and anti Semitism; and a large number of prints on speculation and credit. Many prominent artists are represented in the collection, including Breughel, Goltzius, Rembrandt, Hogarth, and Gillray, to name a... View Details

Web

Digital Exhibits | Baker Library

complete integration into HBS campus life in 1970. Bubbles, Panics & Crashes: A Century of Financial Crises, 1830s-1930s In 1837, 1873, 1907, and 1929, asset price bubbles burst, shattering public confidence and devastating financial,... View Details

Web

Vanity and Virtue: Allegories on the Pursuit of Riches - Coin and Conscience – Baker Library | Bloomberg Center, Historical Collections

Vanity and Virtue Misers, Moneylenders, and Thieves Money Devil Biblical and Mythological Scenes Love and Money Politics and War Louis-Philippe Speculation and Credit Bankers, Financiers, and Statesmen Stock Exchanges printer-friendly... View Details

01 Dec 2005
News

Trillion-Dollar Fixer-Upper

With national vacancy rates still in the 14 percent range and the economy generating fewer new jobs than in previous recoveries, no one sees much chance of a speculative building bubble for office space.... View Details

Keywords: Roger Thompson; Real Estate

12 Feb 2019
First Look

New Research and Ideas, February 12, 2019

have important benefits in workplace settings. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=55598 Diagnostic Bubbles By: Bordalo, Pedro, Nicola Gennaioli, Spencer Yongwook Kwon, and Andrei Shleifer Abstract— We... View Details

Keywords: Dina Gerdeman

19 Apr 2011
First Look

First Look: April 19

should do so, while still protecting one of the world's most valuable brands. Purchase this case:http://cb.hbsp.harvard.edu/cb/product/511110-PDF-ENG Gold in 2011: Bubble or Safe Haven Asset? Robin Greenwood and Benjamin SteinerHarvard... View Details

Keywords: Sean Silverthorne

1
2
→