Psychological Points of Equilibrium in Asset Valuation During Market Bubbles

References

• Abreu, D. and M. K. Brunnermeier. “Bubbles and Crashes.” Econometrica, 71, (2003), pp. 173–204.
   Web of Science ®Google Scholar
• Akerlof, G. A. and R. J. Shiller. Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism. Princeton, NJ: Princeton University Press, (2009).
   Google Scholar
• Barlevy, G. and P. Veronesi. “Rational Panics and Stock Market Crashes.” Journal of Economic Theory, 110, (2003), pp. 234–263.
   Web of Science ®Google Scholar
• Baron, R. M. and D. A. Kenny. “The Moderator-mediator Variable Distinction in Social Psychological Research: Conceptual, Strategic, and Statistical Considerations.” Journal of Personality and Social Psychology, 51, (1986), pp. 1173–1182.
   PubMed Web of Science ®Google Scholar
• Calvo, G. A. and E. G. Mendoza. “Rational Contagion and the Globalization of Securities Markets.” Journal of International Economics, 51, (2000), pp. 79–113.
   Web of Science ®Google Scholar
• Campello, M. and J. R. Graham. “Do Stock Prices Influence Corporate Decisions? Evidence from the Technology Bubble.” Journal of Financial Economics, 107, (2013), pp. 89–110.
   Web of Science ®Google Scholar
• Conlon, J. R. “Simple Finite Horizon Bubbles Robust to Higher Order Knowledge.” Econometrica, 72, (2004), pp. 927–936.
   Web of Science ®Google Scholar
• Cowen, T. “So we thought. But then again….” The New York Times ( January 13, 2008).
   Google Scholar
• Danis, M. A. and A. Pennington-Cross. “The Delinquency of Subprime Mortgages.” Journal of Economics and Business, 60, (2008), pp. 67–90.
   Google Scholar
• De Bondt, W. F. M. and R. Thaler. “Does the Stock Market Overreact?” The Journal of Finance, 40, (1985), pp. 793–805.
   Web of Science ®Google Scholar
• DeMarzo, P., R. Kaniel and I. Kremer “Technological Innovation and Real Investment Booms and Busts.” Journal of Financial Economics, 85, (2007), pp. 735–754.
   Web of Science ®Google Scholar
• Dupor, B. and W. Liu. “Jealousy and Equilibrium Overconsumption.” The American Economic Review, 93, (2003), pp. 423–428.
   Web of Science ®Google Scholar
• Fenzl, T. and L. Pelzmann. “Psychological and Social Forces Behind Aggregate Financial Market Behavior.” Journal of Behavioral Finance, 13, (2012), pp. 56–65.
   Web of Science ®Google Scholar
• Ferguson, C. H. Predator Nation: Corporate Criminals, Political Corruption, and the Hijacking of America. New York: Random House, (2012).
   Google Scholar
• Ferguson, N. The Ascent of Money: A Financial History of the World. New York: Penguins Books, (2008).
   Google Scholar
• Galbraith, J. K. Brève Histoire de L'euphorie Financière. Paris: Éditions du Seuil, (1992).
   Google Scholar
• Galbraith, J. K. Economics in Perspective: A Critical History. Boston: Houghton Mifflin Company, (1987).
   Google Scholar
• Galbraith, J. K. La République des Satisfaits – La culture du Contentement aux États-Unis. Paris: Éditions du Seuil, (1993).
   Google Scholar
• Galbraith, J. K.. Voyage dans le Temps Économique – Témoignage de Première Main. Paris: Éditions du Seuil, (1995).
   Google Scholar
• Gjerstad, S. and V. L. Smith. “Monetary Policy, Credit Extension, and Housing Bubbles: 2008 and 1929.” Critical Review: A Journal of Politics and Society, 21, (2009), pp. 269–300.
   Google Scholar
• Grönroos, C. “From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing.” Management Decision, 32, (1994), pp. 4–20.
   Google Scholar
• Grayson, K. “Friendship Versus Business in Marketing Relationships.” Journal of Marketing, 71, (2007), pp. 121–139.
   Web of Science ®Google Scholar
• Himmelberg, C., C. Mayer and T. Sinai. “Assessing High House Prices: Bubbles, Fundamentals, and Misperceptions.” Journal of Economic Perspectives, 19, (2005), pp. 67–92.
   Web of Science ®Google Scholar
• In't Veld, J., R. Raciborski, M. Ratto and W. Roeger. “The Recent Boom–Bust Cycle: The Relative Contribution of Capital Flows, Credit Supply and Asset Bubbles.” European Economic Review, 55, (2011), pp. 386–406.
   Web of Science ®Google Scholar
• Jiang, Z.-Q., W.-X. Zhou, D. Sornette, R. Woodard, K. Bastiaensen and P. Cauwels. “Bubble Diagnosis and Prediction of the 2005–2007 and 2008–2009 Chinese Stock Market Bubbles.” Journal of Economic Behavior and Organization, 74, (2010), pp. 149–162.
   Web of Science ®Google Scholar
• Kahneman, Daniel and Amos Tversky. “Prospect Theory: An Analysis of Decision under Risk.” Econometrica, 47, (1979), pp. 263–292.
   Web of Science ®Google Scholar
• Kamihigashi, T. “The Spirit of Capitalism, Stock Market Bubbles and Output Fluctuations.” International Journal of Economic Theory, 4, (2008), pp. 3–28.
   Web of Science ®Google Scholar
• Kindleberger, C. P. Histoire Mondiale de la Spéculation Financière. Hendaye: Ed. Valor, (2004).
   Google Scholar
• Lam, K., T. Liu and W.-K. Wong. “A Pseudo-Bayesian Model in Financial Decision Making with Implications to Market Volatility, Under- and Overreaction.” European Journal of Operational Research, 203, (2010), pp. 166–175.
   Web of Science ®Google Scholar
• Mesly, O. “Voyage au Cœur de la Prédation Entre Vendeurs et Acheteurs: Une Nouvelle Théorie en Vente et Marketing.” University of Sherbrooke, Doctorate Thesis (2010).
   Google Scholar
• Mesly, O. “Satisfaction and Financial Predation – A Multiple Large Group Study Revealing their Mathematical Link.” Journal of Wealth Management, 15, (2012), pp. 110–123.
   Google Scholar
• Mesly, O. “Detecting Financial Predators Ahead of Time? A Two-group Longitudinal Study.” Applied Financial Economics, 23, (2013), pp. 1325–1336.
   Google Scholar
• Mesly, O. “Wealth Maximization in the Context of Blind Trust – A Neurobiological Research.” Journal of Behavioral Finance, 16, (2015), pp. 250–266.
   Web of Science ®Google Scholar
• Mesly, O. “Fear, Predatory Webs and Blind Trust Characterize Market Bubbles.” Journal of Economic Psychology (submitted).
   Google Scholar
• Mesly, O. and J.-P. Lévy-Mangin. “The Narrow Range of Perceived Predation — a 19 Group Study.” Anales de Psicología, 29, (2013), pp. 573–582.
   Web of Science ®Google Scholar
• Mesly, O., J.-P. Lévy-Mangin, N. Bourgault and V. Nabelsi. “The Role of Human Interdependence in Multicultural Project Management? A Short-term Empirical Study.” International Journal of Managing Projects in Business, 7, (2014), pp. 78–102.
   Google Scholar
• Olsen, R. “Trust: The Underappreciated Investment Risk Attribute.” The Journal of Behavioral Finance, 13, (2012), pp. 308–313.
   Web of Science ®Google Scholar
• Palmatier, R. W., R. P. Dant, D. Grewal and K. R. Evans. “Factors Influencing the Effectiveness of Relationship Marketing: A Meta-analysis.” Journal of Marketing, 70, (2006), pp. 136–153.
   Web of Science ®Google Scholar
• Rajan, R. Fault Lines. Princeton, NJ: Princeton University Press, (2010).
   Google Scholar
• Rosier, B. Les Théories des Crises Économiques. Paris: Les Éditions La Découverte, (1987).
   Google Scholar
• Scheinkman, J. A. and W. Xiong. “Overconfidence and Speculative Bubbles.” The Journal of Political Economy, 111, (2003), 1183–1219.
   Web of Science ®Google Scholar
• Scherbina, A. and B. Schlusche. “Asset Price Bubbles: A Survey.” Quantitative Finance, 14, (2014), pp. 589–604.
   Web of Science ®Google Scholar
• Shiller, R. J. Irrational Exuberance. New York: Crown Publishing Group, (2005).
   Google Scholar
• Sornette, D. and Y. Malevergne. “From Rational Bubbles to Crashes.” Physica A, 299, (2001), pp. 40–59.
   Web of Science ®Google Scholar
• Soros, G. The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means. New York: PublicAffairs, (2008).
   Google Scholar
• Stiglitz, J. E. The Roaring Nineties: A New History of the World's Most Prosperous Decade. New York: W.W. Norton, (2003).
   Google Scholar
• Taylor, J. B. “Housing and Monetary Policy.” In Housing, Housing Finance, and Monetary Policy, Kansas City, Mo., Federal Reserve Bank of Kansas City, (2007).
   Google Scholar
• Trading Economics. Retrieved from http://www.tradingeconomics.com.
   Google Scholar
• Veblen, T. The Theory of the Leisure Class. Boston: Houghton Mifflin, (1973).
   Google Scholar
• Wang, A. “Interplay of Investors' Financial Knowledge and Risk Taking.” Journal of Behavioral Finance, 10, (2009), pp. 204–213.
   Web of Science ®Google Scholar
• Williamson, O. E. Markets and Hierarchies: Analysis and Anti-trust Implications. New York: The Free Press, (1975).
   Google Scholar
• Zeira, J. “Informational Overshooting, Booms, and Crashes.” Journal of Monetary Economics, 43, (1999), pp. 237–257.
   Web of Science ®Google Scholar