https://www.sciencedaily.com/releases/2018/08/180801181933.htm

The study to be published in the August edition of the INFORMS journal Marketing Science is titled "Two Centuries of Innovations and Stock Market Bubbles," and is authored by Alina and Sorin Sorescu of Mays Business School at Texas A&M University; Will Armstrong of the Rawls College of Business at Texas Tech University; and Bart Devoldere from the Vlerick Business School in The Hague, The Netherlands.

The authors detected bubbles in approximately 73 percent of the innovations they studied, revealing the close relationship between innovation and stock market bubbles. Further, they found that the magnitude of the bubbles is tied to the awareness levels or visibility of each innovation. In other words, the more broadly known the innovation, the more likely the presence of a stock market bubble in the industry where the innovation is introduced.