What general activity or event(s) mark the time at which an economic "bubble" bursts? e.g. the dot-com bubble, etc.
Would it be considered to have "burst" when intrinsic value is less than price? What about when this drop in intrinsic value might be due to some news event, etc...
Is it simply when prices go down? When speculators exit the market, etc. or is it when "the something" happens that causes the drop in prices or the mass exodus from the market? Or something else altogether?