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- Title
Pitfalls in the quest for South Sea rationality.
- Authors
DALE, RICHARD; JOHNSON, JOHNNIE E. V.; TANG, LEILEI
- Abstract
The authors respond to an article entitled "Financial market analysis can go mad (in the search for irrational behaviour during the South Sea Bubble)," by Gary S. Shea, which appears in the current issue of "Economic History Review." They feel that Shea's essay offers three main criticisms of their previously published work regarding the South Sea Bubble. They address the legal opinions regarding the status of subscription receipts, the accuracy of trading data posted after the stock crashed, and issues associated with counterparty risk.
- Subjects
UNITED Kingdom; SOUTH Sea Bubble, Great Britain, 1720; SOUTH Sea Co.; STOCKS (Finance); FINANCIAL crises; MARKET volatility; LISTING of securities; HISTORY
- Publication
Economic History Review, 2007, Vol 60, Issue 4, p766
- ISSN
0013-0117
- Publication type
Article
- DOI
10.1111/j.1468-0289.2007.00378.x