MILLER COLLEGE RESEARCH COLLOQUIUM
Explaining the Timing of Tulipmania’s Boom and Bust: Historical Context, Hidden Capital, and Market Signals
12:00 - 1:30 p.m., Tuesday, February 7, 2017Whitinger Building room 145, Hall of Fame Conference RoomRSVP before January 30 to firstname.lastname@example.org
Presented by David Thomas
Assistant Professor of Economics
Framing tulipmania in terms of investment capital whose quantities, usages, and future yields are hidden from market participants offers a richer and more straightforward explanation of this famous financial bubble than extant alternatives. Simply put, the underground planting of the tulip bulbs in 1636 blindfolded 17th-century Dutch speculators regarding the planted quantities and their development and future yields. The price-boom began in mid-November of 1636, coinciding with the time of planting. The price-collapse occurred in the first week of February 1637, coinciding with the time of bulb sprouting (signaling bulb quantities, development, and future yields). Also consistent with our explanation is the initial price-collapse location, in the Dutch city of Haarlem, where temperature and geography favored early sprouting and sprout-visibility.
About David Thomas
Dr. Thomas holds both a BA and an MA in Economics from the California State University (SJSU) and a Ph.D. in economics from George Mason University (GMU). His research is primarily in the fields of health economics (the impact of emergency services on survival rates) and entrepreneurial economics (the role of early stage entrepreneurial research and development on business cycles). Dr. Thomas had an earlier career as a Silicon Valley entrepreneur, launching four successful tech companies and raising more than $75 million dollars in seed, strategic, and venture capital. His most recent effort, Intacct, based in Silicon Valley, is one of the leading software as a service (SaaS) companies, with more than 11,000 enterprise customers. In recent years, Dr. Thomas represented the tech industry in Washington D.C. as Executive Director of the Software Industry Association and EVP of Business Development for TechAmerica. He currently serves on the advisory board of the College of Health and Human Services at George Mason University.