"By falsifying the bubble hypothesis
of the accelerating expansion, NASA missions like Hubble bring us closer to the ultimate goal of understanding this remarkable property of our universe."
However, this is not enough evidence to support the bubble hypothesis, because banks might have expanded their operations in some growing cities in the 1980s and have reduced their operations in other stagnant cities in the 1990s.
As suggested by Kang and Stulz (2000), the bubble hypothesis indicates a negative relationship between branch changes in the late 1980s and those in the 1990s.
This hypothesis may be related to the bubble hypothesis: just as excessive optimism leads investors to raise asset prices past the levels justified by fundamentals, builders might construct too many new homes and offices, or businesses might install too much new plant and equipment.
This has permitted a direct test of the speculative bubble hypothesis' implication that there should be a strong, negative relationship between early and late asset price growth rates.