Institutionalization in Efficient Markets: The Case of Price Bubbles
نویسندگان
چکیده
We seek to deepen understanding of the micro-foundations of institutionalization while contributing to a sociological theory of markets by investigating the puzzle of price bubbles in financial markets. We find that such markets, despite textbook conditions of high efficiency – perfect information, atomistic agents, no uncertainty – quickly develop patterns consistent with institutionalization processes.
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ورودعنوان ژورنال:
- CoRR
دوره abs/1609.04629 شماره
صفحات -
تاریخ انتشار 2016