BUBBLES AND FADS IN ASSET PRICES
探讨资产价格可能偏离基于市场基本面的内在价值，综述了增长型泡沫、风尚和信息泡沫三类理论，并讨论了太阳黑子理论、相关证据及未来研究方向。
Abstract. The article considers the possibility that asset prices might deviate from intrinsic values based on market fundamentals. Three broad categories of theory are surveyed: (a) growing bubbles (b) fads and (c) information bubbles. ‘Sunspot’theories are also discussed. The paper covers both theory and evidence, and directions for future research are discussed.