On the Possibility of Speculation under Rational Expectations

Jean Tirole

Econometrica, Vol. 50, No. 5. (Sep., 1982), pp. 1163-1181.

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You have printed the following article:

On the Possibility of Speculation under Rational Expectations
Jean Tirole
Econometrica, Vol. 50, No. 5. (Sep., 1982), pp. 1163-1181.

Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198209%2950%3A5%3C1163%3AOTPOSU%3E2.0.CO%3B2-7

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[Footnotes]

5

On the Efficiency of Competitive Stock Markets Where Trades Have Diverse Information

Sanford Grossman
The Journal of Finance, Vol. 31, No. 2, Papers and Proceedings of the Thirty-Fourth Annual
Meeting of the American Finance Association Dallas, Texas December 28-30, 1975. (May, 1976),
pp. 573-585.

Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28197605%2931%3A2%3C573%3AOTEOCS%3E2.0.CO%3B2-Y

6

On the Efficiency of Competitive Stock Markets Where Trades Have Diverse Information

Sanford Grossman
The Journal of Finance, Vol. 31, No. 2, Papers and Proceedings of the Thirty-Fourth Annual
Meeting of the American Finance Association Dallas, Texas December 28-30, 1975. (May, 1976),
pp. 573-585.

Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28197605%2931%3A2%3C573%3AOTEOCS%3E2.0.CO%3B2-Y

6

The Existence of Futures Markets, Noisy Rational Expectations and Informational

Externalities

Sanford J. Grossman
The Review of Economic Studies, Vol. 44, No. 3. (Oct., 1977), pp. 431-449.

Stable URL:

http://links.jstor.org/sici?sici=0034-6527%28197710%2944%3A3%3C431%3ATEOFMN%3E2.0.CO%3B2-R

http://www.jstor.org

LINKED CITATIONS

- Page 1 of 5 -

NOTE: The reference numbering from the original has been maintained in this citation list.

7

Speculative Investor Behavior in a Stock Market with Heterogeneous Expectations

J. Michael Harrison; David M. Kreps
The Quarterly Journal of Economics, Vol. 92, No. 2. (May, 1978), pp. 323-336.

Stable URL:

http://links.jstor.org/sici?sici=0033-5533%28197805%2992%3A2%3C323%3ASIBIAS%3E2.0.CO%3B2-Y

7

Speculation and Equilibrium: Information, Risk, and Markets

J. Hirshleifer
The Quarterly Journal of Economics, Vol. 89, No. 4. (Nov., 1975), pp. 519-542.

Stable URL:

http://links.jstor.org/sici?sici=0033-5533%28197511%2989%3A4%3C519%3ASAEIRA%3E2.0.CO%3B2-R

7

The Theory of Speculation Under Alternative Regimes of Markets

J. Hirshleifer
The Journal of Finance, Vol. 32, No. 4. (Sep., 1977), pp. 975-999.

Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28197709%2932%3A4%3C975%3ATTOSUA%3E2.0.CO%3B2-J

7

Risk, Uncertainty, and Divergence of Opinion

Edward M. Miller
The Journal of Finance, Vol. 32, No. 4. (Sep., 1977), pp. 1151-1168.

Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28197709%2932%3A4%3C1151%3ARUADOO%3E2.0.CO%3B2-M

9

The Stability of Models of Money and Growth with Perfect Foresight

Thomas J. Sargent; Neil Wallace
Econometrica, Vol. 41, No. 6. (Nov., 1973), pp. 1043-1048.

Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28197311%2941%3A6%3C1043%3ATSOMOM%3E2.0.CO%3B2-C

9

Market Fundamentals versus Price-Level Bubbles: The First Tests

Robert P. Flood; Peter M. Garber
The Journal of Political Economy, Vol. 88, No. 4. (Aug., 1980), pp. 745-770.

Stable URL:

http://links.jstor.org/sici?sici=0022-3808%28198008%2988%3A4%3C745%3AMFVPBT%3E2.0.CO%3B2-C

http://www.jstor.org

LINKED CITATIONS

- Page 2 of 5 -

NOTE: The reference numbering from the original has been maintained in this citation list.

References

1

Agreeing to Disagree

Robert J. Aumann
The Annals of Statistics, Vol. 4, No. 6. (Nov., 1976), pp. 1236-1239.

Stable URL:

http://links.jstor.org/sici?sici=0090-5364%28197611%294%3A6%3C1236%3AATD%3E2.0.CO%3B2-D

3

Futures Trading, Rational Expectations, and the Efficient Markets Hypothesis

Margaret Bray
Econometrica, Vol. 49, No. 3. (May, 1981), pp. 575-596.

Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198105%2949%3A3%3C575%3AFTREAT%3E2.0.CO%3B2-U

6

National Debt in a Neoclassical Growth Model

Peter A. Diamond
The American Economic Review, Vol. 55, No. 5, Part 1. (Dec., 1965), pp. 1126-1150.

Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28196512%2955%3A5%3C1126%3ANDIANG%3E2.0.CO%3B2-L

7

What is Speculation?

George Feiger
The Quarterly Journal of Economics, Vol. 90, No. 4. (Nov., 1976), pp. 677-687.

Stable URL:

http://links.jstor.org/sici?sici=0033-5533%28197611%2990%3A4%3C677%3AWIS%3E2.0.CO%3B2-6

9

Market Fundamentals versus Price-Level Bubbles: The First Tests

Robert P. Flood; Peter M. Garber
The Journal of Political Economy, Vol. 88, No. 4. (Aug., 1980), pp. 745-770.

Stable URL:

http://links.jstor.org/sici?sici=0022-3808%28198008%2988%3A4%3C745%3AMFVPBT%3E2.0.CO%3B2-C

http://www.jstor.org

LINKED CITATIONS

- Page 3 of 5 -

NOTE: The reference numbering from the original has been maintained in this citation list.

10

On the Efficiency of Competitive Stock Markets Where Trades Have Diverse Information

Sanford Grossman
The Journal of Finance, Vol. 31, No. 2, Papers and Proceedings of the Thirty-Fourth Annual
Meeting of the American Finance Association Dallas, Texas December 28-30, 1975. (May, 1976),
pp. 573-585.

Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28197605%2931%3A2%3C573%3AOTEOCS%3E2.0.CO%3B2-Y

11

The Existence of Futures Markets, Noisy Rational Expectations and Informational

Externalities

Sanford J. Grossman
The Review of Economic Studies, Vol. 44, No. 3. (Oct., 1977), pp. 431-449.

Stable URL:

http://links.jstor.org/sici?sici=0034-6527%28197710%2944%3A3%3C431%3ATEOFMN%3E2.0.CO%3B2-R

13

Information and Competitive Price Systems

Sanford J. Grossman; Joseph E. Stiglitz
The American Economic Review, Vol. 66, No. 2, Papers and Proceedings of the Eighty-eighth
Annual Meeting of the American Economic Association. (May, 1976), pp. 246-253.

Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28197605%2966%3A2%3C246%3AIACPS%3E2.0.CO%3B2-H

14

Speculative Investor Behavior in a Stock Market with Heterogeneous Expectations

J. Michael Harrison; David M. Kreps
The Quarterly Journal of Economics, Vol. 92, No. 2. (May, 1978), pp. 323-336.

Stable URL:

http://links.jstor.org/sici?sici=0033-5533%28197805%2992%3A2%3C323%3ASIBIAS%3E2.0.CO%3B2-Y

15

Speculation and Equilibrium: Information, Risk, and Markets

J. Hirshleifer
The Quarterly Journal of Economics, Vol. 89, No. 4. (Nov., 1975), pp. 519-542.

Stable URL:

http://links.jstor.org/sici?sici=0033-5533%28197511%2989%3A4%3C519%3ASAEIRA%3E2.0.CO%3B2-R

http://www.jstor.org

LINKED CITATIONS

- Page 4 of 5 -

NOTE: The reference numbering from the original has been maintained in this citation list.

16

The Theory of Speculation Under Alternative Regimes of Markets

J. Hirshleifer
The Journal of Finance, Vol. 32, No. 4. (Sep., 1977), pp. 975-999.

Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28197709%2932%3A4%3C975%3ATTOSUA%3E2.0.CO%3B2-J

21

Risk, Uncertainty, and Divergence of Opinion

Edward M. Miller
The Journal of Finance, Vol. 32, No. 4. (Sep., 1977), pp. 1151-1168.

Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28197709%2932%3A4%3C1151%3ARUADOO%3E2.0.CO%3B2-M

22

Existence of Equilibrium of Plans, Prices, and Price Expectations in a Sequence of Markets

Roy Radner
Econometrica, Vol. 40, No. 2. (Mar., 1972), pp. 289-303.

Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28197203%2940%3A2%3C289%3AEOEOPP%3E2.0.CO%3B2-%23

23

Rational Expectations Equilibrium: Generic Existence and the Information Revealed by

Prices

Roy Radner
Econometrica, Vol. 47, No. 3. (May, 1979), pp. 655-678.

Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28197905%2947%3A3%3C655%3AREEGEA%3E2.0.CO%3B2-X

25

The Stability of Models of Money and Growth with Perfect Foresight

Thomas J. Sargent; Neil Wallace
Econometrica, Vol. 41, No. 6. (Nov., 1973), pp. 1043-1048.

Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28197311%2941%3A6%3C1043%3ATSOMOM%3E2.0.CO%3B2-C

http://www.jstor.org

LINKED CITATIONS

- Page 5 of 5 -

NOTE: The reference numbering from the original has been maintained in this citation list.