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BALONLARI DAHA İYİ TANIMAYA ÇALIŞMAK: BALON TANIMLARI, MODELLERİ VE LALE ÇILGINLIĞI ÖRNEĞİ

Year 2011, Volume: 26 Issue: 1, 151 - 161, 25.06.2011

Abstract

Piyasaların işleyişlerini ve zaman zaman kriz yaşamalarını daha iyi anlayabilmek için balon (bubble) adı verilen ve belli aralıklarla rastlandığına inanılan olayları daha iyi tanımak önem arz etmektedir. Bu çalışmada balonlarla ilgili literatürde yer alan belli başlı tanımlar ve modeller özetlenmiştir. Ayrıca tarihten bir balon örneği olarak sıkça kullanılan Lale Çılgınlığı incelenmiş ve bununla ilgili bazı alternatif görüşler de sunulmuştur.

References

  • Abreu, Dilip, ve Markus. K. Brunnermeier (2002), “Synchronization risk and delayed arbitrage”, Journal of Financial Economics, Vol. 66, No. 2-3, pp. 341
  • Allen, F., ve G. Gorton (1993), “Churning Bubbles”, Review of Economic Studies, Vol. 60, No. 4, pp. 813-836.
  • Blanchard, O. J., ve M. W. Watson (1982): .Bubbles, Rational Expectations, and Financial Markets,. in Crisis in the Economic and Financial Structure, ed. by P. Wachtel, pp. 295.315. Lexington, Lexington, MA.
  • Brunnermeier, Markus K. (2008), “Bubbles”, The New Palgrave Dictionary of Economics, 2 ed., eds. S. Durlauf and L. Blume. Dash, Mike (1999) Tulipomania: the story of the world’s most coveted flower and the extraordinary passions it aroused, Three Rivers Press, New York.
  • DeMarzo, Peter M., Ron Kaniel, ve Ilan Kremer (2008), “Relative Wealth Concerns and Financial Bubbles”, Review of Financial Studies, Vol. 21, No. 1 pp.19-50.
  • DeLong, J. Bradford, Andrei Shleifer, Lawrence H. Summers, ve Robert J. Waldmann (1990), “Noise Trader Risk in Financial Markets”, Journal of Political Economy, Vol. 98, No. 4, pp. 703-738.
  • DeLong, J. Bradford, Andrei Shleifer, Lawrence H. Summers, ve Robert J. Waldmann (1991), "The Survival of Noise Traders in Financial Markets," ournal of Business Vol. 64, No. 1, pp. 1-20.
  • Garber, Peter M. (2000), Famous First Bubbles: The Fundamentals of Early Manias, MIT Press, Cambridge,
  • MA. Kindleberger, Charles P. (1996): Manias, Panics and Crashes: A History of Financial Crises. Wiley, New York, 3rd edition.
  • Kindleberger, Charles P. (2000): Manias, Panics and Crashes: A History of Financial Crises. Macmillan, London, 4th edition. Kindleberger,
  • Charles P., ve Robert Aliber (2005): Manias, Panics and Crashes: A History of Financial Crises. John Wiley & Sons, New Jersey, 5th edition.
  • Ofek, Eli ve Matthew Richarson (2003), “DotCom Mania:The Rise and Fall of Internet Stock Prices”, Journal of Finance, Vol. 58, No. 3, pp.
  • Xx-xx. Palgrave, R. H. I. (1926), Palgrave's Dictionary of political economy, MacMillan, London.
  • Rosenthal, R. (1981), “Games of Perfect Information, Predatory Pricing, and the Chain-Store Paradox”, Journal of Economic Theory, Vol. 25, No. 1, 92-100.
  • Thompson, Earl A. (2007), “The tulipmania: Fact or artifact?”, Public Choice, Vol. 130, No. 1, pp. 99-114.

GETTING TO KNOW BUBBLES: BUBBLE DEFINTIONS, MODELS AND THE TULIPOMANIA EXAMPLE

Year 2011, Volume: 26 Issue: 1, 151 - 161, 25.06.2011

Abstract

Bubbles are events that are commonly believed to occur in markets. In order to enhance our understanding of the functioning and occasional crises of markets, it is important to become better acquainted with bubbles. In this study we review some definitions and models of bubbles found in the literature. Furthermore, we examine the Tulipomania as a commonly cited bubble example from history. We also provide some alternative viewpoints about the Tulipomania.

References

  • Abreu, Dilip, ve Markus. K. Brunnermeier (2002), “Synchronization risk and delayed arbitrage”, Journal of Financial Economics, Vol. 66, No. 2-3, pp. 341
  • Allen, F., ve G. Gorton (1993), “Churning Bubbles”, Review of Economic Studies, Vol. 60, No. 4, pp. 813-836.
  • Blanchard, O. J., ve M. W. Watson (1982): .Bubbles, Rational Expectations, and Financial Markets,. in Crisis in the Economic and Financial Structure, ed. by P. Wachtel, pp. 295.315. Lexington, Lexington, MA.
  • Brunnermeier, Markus K. (2008), “Bubbles”, The New Palgrave Dictionary of Economics, 2 ed., eds. S. Durlauf and L. Blume. Dash, Mike (1999) Tulipomania: the story of the world’s most coveted flower and the extraordinary passions it aroused, Three Rivers Press, New York.
  • DeMarzo, Peter M., Ron Kaniel, ve Ilan Kremer (2008), “Relative Wealth Concerns and Financial Bubbles”, Review of Financial Studies, Vol. 21, No. 1 pp.19-50.
  • DeLong, J. Bradford, Andrei Shleifer, Lawrence H. Summers, ve Robert J. Waldmann (1990), “Noise Trader Risk in Financial Markets”, Journal of Political Economy, Vol. 98, No. 4, pp. 703-738.
  • DeLong, J. Bradford, Andrei Shleifer, Lawrence H. Summers, ve Robert J. Waldmann (1991), "The Survival of Noise Traders in Financial Markets," ournal of Business Vol. 64, No. 1, pp. 1-20.
  • Garber, Peter M. (2000), Famous First Bubbles: The Fundamentals of Early Manias, MIT Press, Cambridge,
  • MA. Kindleberger, Charles P. (1996): Manias, Panics and Crashes: A History of Financial Crises. Wiley, New York, 3rd edition.
  • Kindleberger, Charles P. (2000): Manias, Panics and Crashes: A History of Financial Crises. Macmillan, London, 4th edition. Kindleberger,
  • Charles P., ve Robert Aliber (2005): Manias, Panics and Crashes: A History of Financial Crises. John Wiley & Sons, New Jersey, 5th edition.
  • Ofek, Eli ve Matthew Richarson (2003), “DotCom Mania:The Rise and Fall of Internet Stock Prices”, Journal of Finance, Vol. 58, No. 3, pp.
  • Xx-xx. Palgrave, R. H. I. (1926), Palgrave's Dictionary of political economy, MacMillan, London.
  • Rosenthal, R. (1981), “Games of Perfect Information, Predatory Pricing, and the Chain-Store Paradox”, Journal of Economic Theory, Vol. 25, No. 1, 92-100.
  • Thompson, Earl A. (2007), “The tulipmania: Fact or artifact?”, Public Choice, Vol. 130, No. 1, pp. 99-114.
There are 15 citations in total.

Details

Other ID JA38CP23HS
Journal Section Articles
Authors

ADİL Oran This is me

Publication Date June 25, 2011
Published in Issue Year 2011 Volume: 26 Issue: 1

Cite

APA Oran, A. (2011). BALONLARI DAHA İYİ TANIMAYA ÇALIŞMAK: BALON TANIMLARI, MODELLERİ VE LALE ÇILGINLIĞI ÖRNEĞİ. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi, 26(1), 151-161.
AMA Oran A. BALONLARI DAHA İYİ TANIMAYA ÇALIŞMAK: BALON TANIMLARI, MODELLERİ VE LALE ÇILGINLIĞI ÖRNEĞİ. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi. June 2011;26(1):151-161.
Chicago Oran, ADİL. “BALONLARI DAHA İYİ TANIMAYA ÇALIŞMAK: BALON TANIMLARI, MODELLERİ VE LALE ÇILGINLIĞI ÖRNEĞİ”. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi 26, no. 1 (June 2011): 151-61.
EndNote Oran A (June 1, 2011) BALONLARI DAHA İYİ TANIMAYA ÇALIŞMAK: BALON TANIMLARI, MODELLERİ VE LALE ÇILGINLIĞI ÖRNEĞİ. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi 26 1 151–161.
IEEE A. Oran, “BALONLARI DAHA İYİ TANIMAYA ÇALIŞMAK: BALON TANIMLARI, MODELLERİ VE LALE ÇILGINLIĞI ÖRNEĞİ”, Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi, vol. 26, no. 1, pp. 151–161, 2011.
ISNAD Oran, ADİL. “BALONLARI DAHA İYİ TANIMAYA ÇALIŞMAK: BALON TANIMLARI, MODELLERİ VE LALE ÇILGINLIĞI ÖRNEĞİ”. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi 26/1 (June 2011), 151-161.
JAMA Oran A. BALONLARI DAHA İYİ TANIMAYA ÇALIŞMAK: BALON TANIMLARI, MODELLERİ VE LALE ÇILGINLIĞI ÖRNEĞİ. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi. 2011;26:151–161.
MLA Oran, ADİL. “BALONLARI DAHA İYİ TANIMAYA ÇALIŞMAK: BALON TANIMLARI, MODELLERİ VE LALE ÇILGINLIĞI ÖRNEĞİ”. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi, vol. 26, no. 1, 2011, pp. 151-6.
Vancouver Oran A. BALONLARI DAHA İYİ TANIMAYA ÇALIŞMAK: BALON TANIMLARI, MODELLERİ VE LALE ÇILGINLIĞI ÖRNEĞİ. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi. 2011;26(1):151-6.