Bubble markets and study of the Emu’s Bubble in Texas in 1990’s

This thesis presents evidence of Emu market failure in Texas in 1990's. There are several examples of bubble markets in economics literature. The Dutch tulip market in 17th century, the Florida land bubble in 1925, and the Emu bubble in 1990's are just some controversial examples of such bubble markets. The paper briefly explores these bubbles, and in particular the Emu bubble and provides some explanation of what caused the bubble and why it burst. In this regard, we tried to suggest a model for the emu market crash.