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.
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A Review of Gjerstad and Smith, Part 2
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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.