LEADER 03337oam 22006014a 450 001 9910778842403321 005 20190503073321.0 010 $a0-262-27349-7 010 $a0-585-44652-0 035 $a(CKB)111035898479410 035 $a(CtWfDGI)bkb00000093 035 $a(SSID)ssj0000153427 035 $a(PQKBManifestationID)11149325 035 $a(PQKBTitleCode)TC0000153427 035 $a(PQKBWorkID)10406118 035 $a(PQKB)11493824 035 $a(MiAaPQ)EBC3338442 035 $a(OCoLC)52290440$z(OCoLC)614549520$z(OCoLC)648371070$z(OCoLC)722745723$z(OCoLC)728047170$z(OCoLC)888475390$z(OCoLC)923250117$z(OCoLC)961636706$z(OCoLC)962720457$z(OCoLC)988432365$z(OCoLC)992067546$z(OCoLC)1037449238$z(OCoLC)1037922936$z(OCoLC)1038630884$z(OCoLC)1045452231$z(OCoLC)1055364645$z(OCoLC)1064083261$z(OCoLC)1081278053$z(OCoLC)1083612480 035 $a(OCoLC-P)52290440 035 $a(MaCbMITP)2958 035 $a(Au-PeEL)EBL3338442 035 $a(CaPaEBR)ebr2001041 035 $a(OCoLC)923250117 035 $a(PPN)170254062 035 $a(EXLCZ)99111035898479410 100 $a20000225d2000 uy 0 101 0 $aeng 135 $aurzn|||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFamous first bubbles $ethe fundamentals of early manias /$fPeter M. Garber 210 $aCambridge, Mass. $cMIT Press$dİ2000 215 $axi, 163 p. $cill., map 300 $aTitle from title screen. 311 $a0-262-07204-1 320 $aIncludes bibliographical references (p. [149]-153) and index. 330 $aThe jargon of economics and finance contains numerous colorful terms for market-asset prices at odds with any reasonable economic explanation. Examples include "bubble," "tulipmania," "chain letter," "Ponzi scheme," "panic," "crash," "herding," and "irrational exuberance." Although such a term suggests that an event is inexplicably crowd-driven, what it really means, claims Peter Garber, is that we have grasped a near-empty explanation rather than expend the effort to understand the event.In this book Garber offers market-fundamental explanations for the three most famous bubbles: the Dutch Tulipmania (1634-1637), the Mississippi Bubble (1719-1720), and the closely connected South Sea Bubble (1720). He focuses most closely on the Tulipmania because it is the event that most modern observers view as clearly crazy. Comparing the pattern of price declines for initially rare eighteenth-century bulbs to that of seventeenth-century bulbs, he concludes that the extremely high prices for rare bulbs and their rapid decline reflects normal pricing behavior. In the cases of the Mississippi and South Sea Bubbles, he describes the asset markets and financial manipulations involved in these episodes and casts them as market fundamentals. 606 $aSpeculation$xHistory 606 $aTulip Mania, 1634-1637 606 $aSouth Sea Bubble, Great Britain, 1720 610 $aECONOMICS/Finance 615 0$aSpeculation$xHistory. 615 0$aTulip Mania, 1634-1637. 615 0$aSouth Sea Bubble, Great Britain, 1720. 676 $a332.63/228 700 $aGarber$b Peter M$0122436 801 0$bOCoLC-P 801 1$bOCoLC-P 906 $aBOOK 912 $a9910778842403321 996 $aFamous first bubbles$92733431 997 $aUNINA