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What are Asset Price Bubbles? A Survey on Definitions of Financial Bubbles

Title data

Baumann, Michael Heinrich ; Janischewski, Anja:
What are Asset Price Bubbles? A Survey on Definitions of Financial Bubbles.
2021
Event: 25nd Annual International Conference on Macroeconomic Analysis and International Finance (ICMAIF) , 29.-31. Juli 2021 , University of Crete, Rethymno, Greece / online.
(Conference item: Conference , Speech )

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Abstract in another language

The popular press and news The press have been reporting about bubbles not only since the financial crash of 2008. However, there is no precise definition of what is meant by this. Even in the scientific literature, this question has not been clarified clearly. Depending on the area of application, a wide variety of definitions of bubble are used, with some also distinguishing between positive and negative bubbles as well as fads. We compare definitions as they are used, e.g., in experimental economics, by policy makers, exemplary through historical examples, or in the mathematical discipline of stochastic processes, and examine them for their properties, especially for real-time applicability.

Further data

Item Type: Conference item (Speech)
Refereed: Yes
Keywords: asset price bubble; fad; financial crisis; local martingale; fundamental analysis
Institutions of the University: Faculties
Faculties > Faculty of Mathematics, Physics und Computer Science
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics > Chair Mathematics V (Applied Mathematics)
Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I - International Economics and Finance
Profile Fields
Profile Fields > Advanced Fields
Profile Fields > Advanced Fields > Nonlinear Dynamics
Research Institutions
Research Institutions > Research Centres
Research Institutions > Research Centres > Forschungszentrum für Modellbildung und Simulation (MODUS)
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
500 Science > 510 Mathematics
Date Deposited: 16 Nov 2021 13:06
Last Modified: 16 Nov 2021 13:06
URI: https://eref.uni-bayreuth.de/id/eprint/67848