Pitfalls in the quest for South Sea rationality

R. Dale, J. Johnson, L. Tang

Research output: Contribution to journalArticlepeer-review

5 Citations (Scopus)


Shea offers three main criticisms of our article. These relate to the legal status of subscription receipts, the relevance of post-crash trading data and the appropriate treatment of counterparty risk. In sections i-iii we refute Shea's arguments, and in section iv we suggest some further areas for research.
Original languageEnglish
Pages (from-to)766-772
Number of pages6
JournalEconomic History Review
Issue number4
Publication statusPublished - Nov 2007


  • financial markets
  • history

Cite this