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Core Building Blocks

In: Toward a Metatheory of Economic Bubbles: Socio-Political and Cultural Perspectives

Author

Listed:
  • Nikhilesh Dholakia

    (University of Rhode Island)

  • Romeo V. Turcan

    (Aalborg University)

Abstract

This chapter outlines, discusses, and exemplifies the core constructs—building blocks—of our emerging metatheory of bubbles. Since bubbles are about the perceived values of assets, our starting building blocks related to assets. Regardless of the type of asset, three core asset-linked dimensions are important for bubbles to form, to inflate (often rapidly and dramatically), and eventually to burst; these are perceived asset availability, perceived asset value, and perceived asset communication. We conclude this chapter by comparing four asset types: entertainment (such as movies), commodities (such as minerals or agricultural commodities), financial stocks (such as shares of technology companies), and housing (such as real estate values in a metro area) and analyze the transcending properties of these three dimensions: those affecting availability of an asset; those affecting valuation of an asset; and those affecting communications about an asset.

Suggested Citation

  • Nikhilesh Dholakia & Romeo V. Turcan, 2014. "Core Building Blocks," Palgrave Macmillan Books, in: Toward a Metatheory of Economic Bubbles: Socio-Political and Cultural Perspectives, chapter 2, pages 9-21, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-137-36179-0_2
    DOI: 10.1057/9781137361790_2
    as

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