The Relationships Between Prices and Information in Financial Markets
Marc Andreessen
201

It is interesting to look at boom and bust cycles as an information problem… which ultimately they are… however I do not believe in the way that you propose here.

Primarily boom and bust is a reward problem, driven by cheap money. Namely, money stock.

Cheap money rewards increasing risk, higher risk leads to higher losses, which add up until the losses are apparent and then panic.

Overall, I think what you are getting at here is a type of behavioral rebuttal to the efficient-market hypothesis.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.