IDEAS home Printed from https://ideas.repec.org/p/arx/papers/cond-mat-9906435.html
   My bibliography  Save this paper

Analysis of the phenomenon of speculative trading in one of its basic manifestations: postage stamp bubbles

Author

Listed:
  • Bertrand Roehner

    (CNRS/Univ. Nice and UCLA)

  • D. Sornette

    (CNRS/Univ. Nice and UCLA)

Abstract

We document and analyze the empirical facts concerning one of the clearest evidence of speculation in financial trading as observed in the postage collection stamp market. We unravel some of the mechanisms of speculative behavior which emphasize the role of fancy and collective behavior. In our conclusion, we propose a classification of speculative markets based on two parameters, namely the amplitude of the price peak and a second parameter that measures its ``sharpness''. This study is offered to anchor modeling efforts to realistic market constraints and observations.

Suggested Citation

  • Bertrand Roehner & D. Sornette, 1999. "Analysis of the phenomenon of speculative trading in one of its basic manifestations: postage stamp bubbles," Papers cond-mat/9906435, arXiv.org.
    • Handle: RePEc:arx:papers:cond-mat/9906435
    as

    Download full text from publisher

    File URL: http://arxiv.org/pdf/cond-mat/9906435
    File Function: Latest version
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Fabian Bocart & Ken Bastiaensen & Peter Cauwels, 2011. "The 1980s Price Bubble on (Post) Impressionism," ACEI Working Paper Series AWP-03-2011, Association for Cultural Economics International, revised Nov 2011.
    2. B. M. Roehner, 2000. "Determining bottom price-levels after a speculative peak," Papers cond-mat/0009222, arXiv.org.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:cond-mat/9906435. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: arXiv administrators (email available below). General contact details of provider: http://arxiv.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.