When a Master Dies: Speculation and Asset Float

Asset Float and Speculative Bubbles

We model the relationship between asset float (tradeable shares) and speculative bubbles. Investors with heterogeneous beliefs and short-sales constraints trade a stock with limited float because of insider lockups. A bubble arises as price overweighs optimists’ beliefs and investors anticipate the option to resell to those with even higher valuations. The bubble’s size depends on float as inve...

Herding and Speculation in Experimental Asset Markets

I conduct an experiment to observe individual traders’ beliefs and desired behavior in a partial-equilibrium asset market. Isolated traders trade a risky asset in a market with exogenous prices. The price series exhibits a "bubble," diverging strongly from the expected dividend yield. Before trading, traders predict the asset’s price in the upcoming period, the price in the …nal period, and the...

When a partner dies: lesbian widows.

Death of a life partner and the subsequent bereavement are profound experiences for an individual. By far, the majority of bereavement research reported is focused on heterosexual couples, primarily married and often in the later years of life. The purpose of this study was to describe the bereavement experiences of lesbians whose life partners have died. The study used a descriptive, qualitati...

When Speculation Matters

Radiation safety when a patient dies after therapy.

OBJECTIVE When a patient dies a short time after radionuclide therapy, several issues arise due to the shifting of responsibility from patient care to protection of the public, while respecting societal values and rites. Such a situation occurred in our institution after administering a large therapeutic dose of 131I for metastatic thyroid cancer. The requirements of safe practice, the shift ac...