In a message dated 1/7/03 12:53:47 AM, [EMAIL PROTECTED] writes:
I find it interesting that there are so many more articles about bubbles
than about the underlying reality of the equity premium puzzle. This is
a nice case where a little knowledge is a dangerous thing. The average
investor
If one had a cynical bent one might suggest that the predominance of
stories about the small bubbles in the huge cake batter of the miracle of
modern economic growth stems from a prevalence of statists in the news
media.
David Levenstam
What about the large bubbles?
Fred Foldvary
=
--- Bryan D Caplan [EMAIL PROTECTED] wrote:
I find it interesting that there are so many more articles about bubbles
than about the underlying reality of the equity premium puzzle. This is
a nice case where a little knowledge is a dangerous thing. The average
investor would be far better off
The average
investor would be far better off if they did think that enormous returns
could continue forever because, in a deep though less dramatic way, they
DO. I suspect that a lot of people have been turned off to stock
ownership for decades in spite of the fact that they are the smart
I've been reading about weather derivatives at
http://www.weatherderivs.com/ and was curious if anyone knew of an
existence of other kinds of derivatives, on things like labor market size,
unemployment rate, CPI, inflation rate, cost of gas at the pump, etc?
Is anyone interested in working on
An interesting observation by my friend Jim.
--
Prof. Bryan Caplan
Department of Economics George Mason University
http://www.bcaplan.com [EMAIL PROTECTED]
Mr. Banks: Will you be good enough to explain all this?!
Mary
In a message dated 1/7/03 11:58:51 AM, [EMAIL PROTECTED] writes:
If one had a cynical bent one might suggest that the predominance of
stories about the small bubbles in the huge cake batter of the miracle of
modern economic growth stems from a prevalence of statists in the news
media.
David
Alypius Skinner wrote:
People aren't always alive in the long-term! Lots of baby boomers are
approaching retirement when they will begin to draw down their savings. If
their savings are being decimated by a bear market at the same time, they
may not have enough to last them until they die.
It's a good idea. Not much exists yet but Robert Shiller has been
actively promoting similar ideas for some time. A good introduction is
his paper with co-authors in the volume I edited called Entrepreneurial
Economics: Bright Ideas from the Dismal Science, see
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