Cracking the enigma of asset bubbles with narratives
认为资产泡沫由叙事驱动，提出三阶段叙事视角解释泡沫形成，并为未来研究提供议程，适合对泡沫成因和叙事经济学感兴趣的学者。
The hysteria and destruction created by asset bubbles have garnered widespread attention in recent years, resulting in a wealth of studies on these events from a range of disciplines. However, despite these efforts, we, as a diverse research community, have failed to predict, prevent, and even explain asset bubbles, while bouts of speculative mania continue to wreak havoc on the world’s economies. We argue that periods of intense market speculation are driven by narratives and narrative thought, and thus narrative research represents a promising alternative by which we may ultimately be able to crack the enigma of asset bubbles. In this article, we explain the core reasons behind this argument, outline a three-stage narrative perspective of asset bubble formation, and provide a research agenda for future narrative studies on these events.