irrational exuberance

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Irrational Exuberance

Author : Robert J. Shiller
ISBN : 9781400865536
Genre : Business & Economics
File Size : 35. 42 MB
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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, cautions that signs of irrational exuberance among investors have only increased since the 2008–9 financial crisis. With high stock and bond prices and the rising cost of housing, 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. Previous editions covered the stock and housing markets—and famously predicted their crashes. This edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets. It also includes updated data throughout, as well as Shiller's 2013 Nobel Prize lecture, which places 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 this book.

Irrational Exuberance Reconsidered

Author : Mathias Külpmann
ISBN : 9783540247654
Genre : Business & Economics
File Size : 85. 55 MB
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Mathias Külpmann presents a framework to evaluate whether the stock market is in line with underlying fundamentals. The new and revised edition offers an up to date introduction to the controversy between rational asset pricing and behavioural finance. Empirical evidence of stock market overreaction are investigated within the paradigms of rational asset pricing and behavioural finance. Although this monograph will not promise the reader to become a millionaire, it offers a road to obtain a deeper understanding of the forces which drive stock returns. It should be of interest to anyone interested in what drives performance in the stock market.

Irrational Exuberance In The U S Housing Market Were Evangelicals Left Behind

Author : Christopher W. Crowe
Genre : Business & Economics
File Size : 37. 2 MB
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The recent housing bust has reignited interest in psychological theories of speculative excess (Shiller, 2007). I investigate this issue by identifying a segment of the U.S. population-evangelical protestants-that may be less prone to speculative motives, and uncover a significant negative relationship between their population share and house price volatility. Evangelicals' focus on Biblical prophecy could account for this difference, since it may enable them to interpret otherwise negative events as containing positive news, dampening the response of house prices to shocks. I provide evidence for this channel using a popular internet measure of "prophetic activity" and a 9/11 event study. I also analyze survey data covering religious beliefs and asset holding, and find that 'end times' beliefs are associated with a one-third decline in net worth, consistent with these beliefs providing a form of psychic insurance (Scheve and Stasavage, 2006a and 2006b) that reduces asset demand.

Financial Fragility With Rational And Irrational Exuberance

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ISBN : OCLC:45399628
Genre : Economic forecasting
File Size : 65. 36 MB
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The article discusses economic financial structures and investment forecasting.

Irrational Exuberance Dancing On The Lip Of The Volcano

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ISBN : OCLC:961899582
Genre : Art
File Size : 88. 54 MB
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The Law And Economics Of Irrational Behavior

Author : Francesco Parisi
ISBN : 0804751447
Genre : Business & Economics
File Size : 28. 22 MB
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This collection of essays explores the most relevant developments at the interface of economics and psychology, giving special attention to models of irrational behavior, and draws the relevant implications of such models for the design of legal rules and institutions. The application of economic models of irrational behavior to law is especially challenging because specific departures from rational behavior differ markedly from one another. Furthermore, the analytical and deductive instruments of economic theory have to be reshaped to deal with the fragmented and heterogeneous findings of psychological research, turning towards a more experimental and inductive methodology. This volume brings together pioneering scholars in this area, along with some of the most exciting developments in the field of legal and economic theory. Areas of application include criminal law and sentencing, tort law, contract law, corporate law, and financial markets.

Irrational Exuberance For Orchestra And Tape

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ISBN : OCLC:654164821
Genre :
File Size : 61. 11 MB
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Irrational Exuberance

Author : Anthony Sweeney
ISBN : 1901657841
Genre : Business cycles
File Size : 45. 34 MB
Format : PDF
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An analysis of the myth of the Celtic Tiger - Ireland's boom-bust cycle.

Behavioral Finance

Author : Matt Maaske
ISBN : OCLC:57247554
Genre : Finance
File Size : 54. 39 MB
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"The speculative bubble in stock prices (particularly those of technology stocks) that began to form in 1995 and subsequently burst in March of 2000 has renewed interest in the psychology of investor behavior. Although speculative bubbles are by no means new, they all share numerous characteristics, including irrational behavior on the part of investors, both individual and institutional. This study will seek to explore and address why investor behavior in speculative periods does not conform to traditional economic theory, which assumes that all actors behave rationally. In addition, the study will examine why, despite myriad historical examples, investors repeatedly make the same mistakes during these speculative times."--Author's abstract.

Animal Spirits

Author : George A. Akerlof
ISBN : 9783593389370
Genre : Political Science
File Size : 63. 71 MB
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Viel zu lange hat die Ökonomie einen der wichtigsten Faktoren im wirtschaftlichen Agieren von Menschen vernachlässigt: die Animal Spirits, also die nicht-rationalen Aspekte unseres Handelns. Ein großer Fehler, sagen George A. Akerlof und Robert J. Shiller, dessen Folgen wir in der Wirtschaftskrise täglich neu zu spüren bekommen. Sie fordern, das Verhalten des Menschen in der Wirtschaft wieder stärker zu berücksichtigen, anstatt sich auf reinen Marktglauben zu konzentrieren. Dieses Buch ist das Ergebnis ihrer langjährigen Forschungsarbeit. Es zeigt uns, wie erfolgreiches ökonomisches Denken und Handeln in der Zukunft aussehen muss.

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