speculative bubble
en.wikipedia.org
An
economic bubble (also called a
speculative bubble or a
financial bubble) is a period when current
asset prices greatly exceed their
intrinsic valuation, being the valuation that the underlying long-term fundamentals justify.
en.wikipedia.org
Tulip mania (
Dutch:
tulpenmanie) was a period during the
Dutch Golden Age when contract prices for some
bulbs of the recently introduced and fashionable
tulip reached extraordinarily high levels. The major acceleration started in 1634 and then dramatically collapsed in February 1637. It is generally considered to have been the first recorded
speculative bubble or asset bubble in history.