👍Bubble Economics

My coauthor Tomohiro introduced me to the theory of asset price bubbles and we started to work together in the summer of 2022. By the fall of 2023, we wrote many papers that we think are ground-breaking. The Journal of Mathematical Economics, which was founded in 1974 and I was serving as a coeditor, was running a 50th anniversary issue and I was invited to contribute a review article on the topic of my choice. Initially I thought about writing a review article on power laws, but I wanted to save it for another occasion, so I invited Tomohiro to write a self-contained review on asset price bubbles that covers the foundation, classical results, as well as the frontier. I think this paper is the best introduction to anybody interested in asset price bubbles.