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Irrational exuberance

Author: Robert J Shiller
Publisher: Princeton, New Jersey : Princeton University Press, [2015] ©2015
Edition/Format:   eBook : Document : English : Revised and expanded third editionView all editions and formats
Summary:
"In this revised, updated, and expanded edition of his New York Times bestseller, Nobel Prize-winning economist Robert Shiller, who warned of both the tech and housing bubbles, now cautions that signs of irrational exuberance among investors have only increased since the 2008-9 financial crisis. With high stock and bond prices in the United States, and rising housing prices in many countries, the post-subprime boom  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Shiller, Robert J.
Irrational exuberance.
Princeton, New Jersey : Princeton University Press, [2015]
(DLC) 2014036705
(OCoLC)891001561
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Robert J Shiller
ISBN: 9781400865536 1400865530 1322519536 9781322519531
OCLC Number: 898770039
Language Note: In English.
Awards: Winner of Commonfund Prize 2000
Description: 1 online resource (358 pages) : illustrations
Contents: One. The Stock Market in Historical Perspective --
Two. The Bond Market in Historical Perspective --
Three. The Real Estate Market in Historical Perspective --
Four. Precipitating Factors: The Internet, the Capitalist Explosion, and Other Events --
Five. Amplification Mechanisms: Naturally Occurring Ponzi Processes --
Six. The News Media --
Seven. New Era Economic Thinking --
Eight. New Eras and Bubbles around the World --
Nine. Psychological Anchors for the Market --
Ten. Herd Behavior and Epidemics --
Eleven. Efficient Markets, Random Walks, and Bubbles --
Twelve. Investor Learning-and Unlearning --
Thirteen. Speculative Volatility in a Free Society --
Appendix. Nobel Prize Lecture: Speculative Asset Prices.
Responsibility: Robert J. Shiller.
More information:

Abstract:

"In this revised, updated, and expanded edition of his New York Times bestseller, Nobel Prize-winning economist Robert Shiller, who warned of both the tech and housing bubbles, now cautions that signs of irrational exuberance among investors have only increased since the 2008-9 financial crisis. With high stock and bond prices in the United States, and rising housing prices in many countries, the post-subprime boom may well turn out to be another illustration of Shiller's influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. In other words, Irrational Exuberance is as relevant as ever. But Irrational Exuberance is about something far more important than the current situation in any given market because the book explains the forces that move all markets up and down. It shows how investor euphoria can drive asset prices up to dizzying and unsustainable heights, and how, at other times, investor discouragement can push prices down to very low levels. Previous editions covered the stock and housing markets--and famously predicted their crashes. This new edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets. This edition also includes updated data throughout, as well as Shiller's 2013 Nobel Prize lecture, which puts the book in broader context. In addition to diagnosing the causes of asset bubbles, Irrational Exuberance recommends urgent policy changes to lessen their likelihood and severity--and suggests ways that individuals can decrease their risk before the next bubble bursts. No one whose future depends on a retirement account, a house, or other investments can afford not to read it"--Provided by publisher.

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Robert J. Shiller, Co-Winner of the 2013 Nobel Prize in Economics A New York Times Bestseller Winner of the 2000 Commonfund Prize for the Best Contribution to Endowment Management Research "Robert J. Read more...

 
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