返回Google圖書搜尋

Mutual Illusions and Financing New Technologies

其他書名	Two-sided Informational Cascades
出版	MERIT, Maastricht Economic Research Institute on Innovation and Technology, 2002
URL	http://books.google.com.hk/books?id=wffCPQAACAAJ&hl=&source=gbs_api

註釋A model in which agents on both sides of the market are subject to informational cascades is examined. In an uncertain environment with asymmetric information agents tend to be overoptimistic about the state of the world, a result that fits with empirical evidence on financing new technologies. This overoptimism based on mutual illusions makes the system vulnerable to two-sided bubbles, and may be one of the reasons behind "dot com" crash.