In Part 1 of my review of the April 2009 Wall Street Journal op-ed (wayback machine link) by Steven Gjerstad and Vernon Smith, I argued that the approach they took to the American housing market magnified the importance of “bubble” mechanisms.
A Review of Gjerstad and Smith, Part 2
A Review of Gjerstad and Smith, Part 2
A Review of Gjerstad and Smith, Part 2
In Part 1 of my review of the April 2009 Wall Street Journal op-ed (wayback machine link) by Steven Gjerstad and Vernon Smith, I argued that the approach they took to the American housing market magnified the importance of “bubble” mechanisms.