1. Virginia Postrel on the economics of bubbles.
3. Frog picture; recommended.
4. Robot density.
5. We’ll do the next two chapters of Keynes on Monday.
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An ungated version of Vernon Smith paper referred to in the Postrel article is here: http://people.exeter.ac.uk/dgbalken/EE08/smith.pdf
Remember, frog hunting with rifle, shotgun or firearm may be illegal in your state. Check with your local law professor.
tyler, i was wondering if you might have a comment on this article?
http://atimes.com/atimes/Global_Economy/JL12Dj02.html
Is Postrel a closet Austrian? That doesn’t sound tolerantly cosmopolitan to me!
Are there good books on the experimental research on bubbles (and other research if it’s useful)? Why aren’t we talking more about this these days?
I wonder what happens when you run the asset pricing experiment with shorting allowed? Ya wanna bet that the bubbles aren’t so pronounced?
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