What if the crash was changed by law?
One modern explanation for Dutch tulip mania says prices were not driven by fantasy alone. Traders were also reacting to the chance that contracts could be canceled for only a small fixed fee.Tulip Mania: The Crash That Historians Still Debate
That changed the whole game
A normal forward contract meant the buyer had to take the bulb at the agreed price. But if buyers could walk away by paying a penalty, the deal suddenly became much safer for them.Tulip Mania: The Crash That Historians Still Debate
