Institutionalization in Efficient Markets: The Case of Price Bubbles

• Main Authors: LEVINE, Sheen S., Zajac, Edward J.
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2008
• Subjects: Efficienct market theory; economic efficiency; uncertainity; Organizational Behavior and Theory
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/1059; https://doi.org/10.5465/AMBPP.2008.33649949
• Institution: Singapore Management University

We seek to deepen understanding of the micro-foundations of institutionalization while contributing to a sociological theory of markets by investigating the puzzle of price bubbles in financial markets. We find that such markets, despite textbook conditions of high efficiency -- perfect information,...