The price bubble morphology

Morphology and kinematics of the Cepheus Bubble

We investigate the spatial and velocity distribution of atomic hydrogen associated with the Cepheus Bubble, a giant (≈ 10◦ in angular diameter) dust ring around the Cep OB2 association. HI 21 cm data, taken from the Leiden/Dwingeloo survey, reveal HI structures in the [−14,+2] kms−1 velocity range which can be associated with prominent parts of the dust ring. In the same area the HI maps also s...

The Morphology of Price Dispersion

This article is a study of the shape and structure of the distribution of prices at which an identical good is sold in a given market and time period. We find that the typical price distribution is symmetric and leptokurtic, with a standard deviation between 19% and 36%. Only 10% of the variance of prices is due to variation in the expensiveness of the stores at which a good is sold, whereas th...

Value or Bubble? A Decomposition of the Bitcoin Price

In this study, I analyze Bitcoin transaction data and build an economic model on Bitcoin traders incentives to decompose the Bitcoin price into a utility-driven component, a speculative component, and a friction component. The model I build extends the LDA (Latent-Dirichlet-Allocation) model, and I perform a paralleled collapsed Gibbs Sampling method to estimate the realized incentives of each ...

The Japanese Asset Price Bubble : A „ Heterogeneous ‟ Approach

Learning by Doing: Asset Price Bubble Formation with Heterogeneous Agents

In this paper we study the accruement and decay of asset price bubbles under the assumption that young agents behave boundedly rationally when rst entering the market and then gain more and more experience when growing older, nally reaching a state of perfect rational behavior. We set up an overlapping generations model where agents form their beliefs about the payo of a risky asset by combinin...