Research Catalog

Irrational exuberance

Title
Irrational exuberance / Robert J. Shiller.
Author
Shiller, Robert J.
Publication
Princeton, N.J. : Princeton University Press, [2005], ©2005.

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Details

Description
xxv, 304 pages : illustrations; 24 cm
Summary
"In this update of his 2000 bestseller, Irrational Exuberance, Robert Shiller returns to the topic that gained him international fame: market volatility. Shiller breaks new ground in this second edition by laying out in even clearer and starker terms the market excess that continue to destabilize the economy and disrupt our lives." "Building on the original edition, Shiller draws out the psychological origins of volatility in financial markets, this time folding real estate into his analysis. He broadens the evidence that investing in capital markets of all kinds in the modern free market is inherently unstable - subject to the profoundly human influences captured in Alan Greenspan's now-famous phrase, "irrational exuberance."" "The ultimate solution to this troubling condition, he maintains, would involve better-designed public institutions such as a revamped social security system, new forms of insurance to protect people's incomes and homes, and a broader array of investment options."--BOOK JACKET.
Subjects
Bibliography (note)
  • Includes bibliographical references (p. 231-286) and index.
Contents
1. The stock market in historical perspective -- 2. The real estate market in historical perspective -- 3. Precipitating factors : the capitalist explosion, the internet, and other events -- 4. Amplification mechanisms : naturally occurring Ponzi processes -- 5. The news media -- 6. New era economic thinking -- 7. New eras and bubbles around the world -- 8. Psychological anchors for the market -- 9. Herd behavior and epidemics -- 10. Efficient markets, random walks, and bubbles -- 11. Investor learning - and unlearning -- 12. Speculative volatility in a free society.
ISBN
0691123357 (alk. paper)
LCCN
2004024789
OCLC
  • OCM56807021
  • SCSB-5172418
Owning Institutions
Columbia University Libraries