tulipmania

Peter Garber
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
Alternate versions available: 1987 Edition
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Abstract

This curious speculation in tulip bulbs near four centuries ago has become a modern synonym for and warning about the irrational speculation that may break out in any asset market. Nevertheless, a look at the forces that actually drove it provides an alternative, fundamental explanation and a warning to observers of asset markets not to accept so quickly unprovable psychological explanations of asset prices.
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How to cite this article

Garber, Peter. "tulipmania." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 22 May 2017 <http://www.dictionaryofeconomics.com/article?id=pde2008_T000137> doi:10.1057/9780230226203.1746

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