Abstract

GUZMAN VASQUEZ, Alexander  and  TRUJILLO DAVILA, María Andrea. Burbujas en los precios de los activos financieros. Pensam. gest. [online]. 2008, n.24, pp.63-87. ISSN 1657-6276.

The empiric evidence has demonstrated the existence of bubbles in the prices of the financial assets; this means that the assets are dealt with a lower or higher value than the fundamental one. Given the previous, this article intends to solve the following questions: What reasons are given by the literature to explain the existence of bubbles in the prices of the financial assets?, which are the implications of the existence of bubbles for the public policy?, what investigations topics are related with this theme? In order to answer these questions a review has been developed, mainly, of articles published in academic journals. The reviewed articles discuss the themes related to the bubbles in the price of the financial assets.

Keywords : Efficient Markets Hypothesis; speculative bubbles; behavioral finance.

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