5min chapter

The Joe Walker Podcast cover image

Rational Minds Part 3: Rethinking Bubbles - Vernon Smith

The Joe Walker Podcast

CHAPTER

The Importance of Understanding the Market

In one experiment, people were told they would get a dividend at the end of each period. The market just didn't come off the stops at that level at all. And so we just baffled us because about what we learned from that is that you see you can have common information on what something is supposed to be worth, but that's not necessarily part of your experience, you see.

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