Motivated by the behavior of internet stock prices in 1998-2000, we present a continuous time equilibrium model of bubbles where overconfidence generates agreements to disagree among agents about asset fundamentals. With a short-sale constraint, an asset owner has an option to sell the asset to other agents when they have more optimistic beliefs. This re-sale option has a recursive structure, t...

The success of flotation operation depends upon the thriving interactions of chemical and physical variables. In this work, the effects of particle size, bubble size, and collector dosage on the bubble loading in a continuous flotation column were investigated. In other words, this work was mainly concerned with the evaluation of the true flotation response to the changes in the operating varia...

This paper develops an agent-based spatial model of the housing market. Real estate is many families’ single biggest asset. It is also widely held by financial institutions, in the form of mortgage based securities. As a result, avoiding extreme housing price volatility is crucial for maintaining financial stability of the nation. The housing market is very unique: it is thin, highly regulated,...

A general theory of innovation and progress in human society is outlined, based on the combat between two opposite forces (conservatism/inertia and speculative herding “bubble” behavior). We contend that human affairs are characterized by ubiquitous “bubbles”, which involve huge risks which would not otherwise be taken using standard cost/benefit analysis. Bubbles result from self-reinforcing p...

Abstract One may contend that there are some clear similarities between the market for sustainable assets now and situation of tech stocks right before collapse dot-com bubble. In fact, 2000, risk new technology was primarily idiosyncratic because limited scale production low likelihood a widespread adoption. Subsequently, with an increasing probability adoption, also, old economy affected by a...