Karim T. Mansour Karim T. Mansour

The Keynesian Beauty Contest in Digital Asset Markets: Higher-Order Beliefs, Informational Cascades, and Retail Speculative Bubbles

AbstractNeoclassical asset pricing models, such as the Efficient Market Hypothesis (EMH), assumethat asset prices reflect the discounted present value of expected future cash flows. Duringperiods of speculative market euphoria, however, pricing dynamics frequently detach fromunde...

The Keynesian Beauty Contest in Digital Asset Markets: Higher-Order Beliefs, Informational Cascades, and Retail Speculative Bubbles

AbstractNeoclassical asset pricing models, such as the Efficient Market Hypothesis (EMH), assumethat asset prices reflect the discounted present value of expected future cash flows. Duringperiods of speculative market euphoria, however, pricing dynamics frequently detach fromunde...