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Tech investors were exuberant, but it's not clear that they people for dancing when the music was playing; irrationality was rational given that appending.
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Irrational exuberance is the psychological basis of a speculative bubble. I define a speculative bubble as a situation in which news of price increases spurs.
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reflected real economic growth and advances in productivity, expansionary monetary policy, infla- tion, or simply “irrational exuberance” that defies explanation?
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