Article | American Economic Review | December 1991

Intrinsic Bubbles: The Case of Stock Prices

by Kenneth A. Froot and M. Obstfeld

Keywords: rational expectations; equities; Fundamentals; behavioral finance; Price Bubble; Stocks; Information; Asset Pricing;


Froot, Kenneth A., and M. Obstfeld. "Intrinsic Bubbles: The Case of Stock Prices." American Economic Review 81, no. 5 (December 1991): 1189–1214. (Revised from NBER Working Paper No. 3091, March 1992. Reprinted in Speculation and Financial Markets, edited by M. Taylor and L. Gallagher. Cheltenham: Edward Elgar Publishing, 2001.)