Nice story, although something about the clean distinction of the third type of bubble seems imperfect to me. The difference being that in the other two types

Nice story, although something about the clean distinction of the third type of bubble seems imperfect to me. The difference being that in the other two types of bubble there are still many people (not a majority) who are trading on the predicted behaviour of other traders (rather than a prediction about the future being the same or better).