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Quantitative History Webinar Series
唐代中國是否出現過牡丹泡沫? (“Peony Bubble” in the Tang Dynasty)
Professor Weipeng Yuan
(Department of History, Shanghai Jiaotong University)
Date/Time: October 6, 2022, 4:00 pm (HK time)
Language: Mandarin
Venue: Conducted via Zoom
Enquiry: (Email) cqhmail@hku.hk
Quantitative History Webinar Series
唐代中國是否出現過牡丹泡沫? (“Peony Bubble” in the Tang Dynasty)
Professor Weipeng Yuan
(Department of History, Shanghai Jiaotong University)
Date/Time: October 6, 2022, 4:00 pm (HK time)
Language: Mandarin
Venue: Conducted via Zoom
Enquiry: (Email) cqhmail@hku.hk
Title:
唐代中國是否出現過牡丹泡沫? (“Peony Bubble” in the Tang Dynasty)
Speaker:
Professor Weipeng Yuan (Department of History, Shanghai Jiaotong University)
Date/Time:
October 6, 2022, 4:00 pm (HK time)
Language:
Mandarin
Enquiry:
Title:
唐代中國是否出現過牡丹泡沫? (“Peony Bubble” in the Tang Dynasty)
Speaker:
Professor Weipeng Yuan (Department of History, Shanghai Jiaotong University)
Date/Time:
October 6, 2022, 4:00 pm (HK time)
Language:
Mandarin
Enquiry:
Speculative bubbles and crises have accompanied financial markets since their beginning or even earlier. The much-studied Dutch tulip mania of the 17th century is commonly known as the earliest speculative bubble in human history. Professor Weipeng Yuan of Shanghai Jiaotong University and his co-authors will take us further back by showing that during the Tang Dynasty (618-907 AD), the Chinese elites and commoners alike feverishly speculated on peonies, pushing peony prices to the sky. Their research is based on historical documents from the Tang and Song dynasties, such as poems, lyrics, and manuscripts, which allow them to trace the history of peony cultivation, consumption, trading, and speculation.
In this Quantitative History Webinar, Professor Yuan will present a socioeconomic picture of Tang China’s peony bubble, enriching our understanding of speculative bubbles and financial crises in human history. Boosted by high speculative energy and facilitated by the trading in forward peony contracts, peony prices reached unimaginable levels and fluctuated wildly during the Tang Dynasty. The peony mania in Tang China shared many similarities with the Dutch tulip bubble, except that it happened about eight centuries earlier.
This event is co-organized by the International Society for Quantitative History, HKU Business School, and Hong Kong Institute for the Humanities and Social Sciences.
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