AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
3min chapter
Housing Bubble Week Epilogue: Not All Bubbles Are Created Equal - Vernon Smith
The Joe Walker Podcast
The Effects of Bubbles on the Asset Markets
In the first experiments we didn't expect the markets to work as well as they did. So what we learned was that you see people don't get into equilibrium in these asset markets just by thinking about it. They have to actually experience. And of course that's not very helpful out there in the world because you can't rerun the last 20 years two or three times so people understand what the consequences of a bubble layer are. But anyway this turned out to be just as the first exercise fueled a whole lot of studies and equilibrium convergence and markets for non-durables.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode