In this bold and potentially urgent volume, Robert J. Shiller, a respected expert on market volatility, offers an unconventional interpretation of recent U.S. stock market highs and shows that Alan Greenspan's term "irrational exuberance" is a good description of the mood behind the market. He warns
Irrational Exuberance
β Scribed by Robert J. Schiller
- Publisher
- Princeton University Press
- Year
- 2015
- Tongue
- English
- Leaves
- 380
- Edition
- 3
- Category
- Library
No coin nor oath required. For personal study only.
β¦ Table of Contents
Contents......Page 6
List of Figures and Tables......Page 8
Preface to the Third Edition......Page 10
Preface to the Second Edition, 2005......Page 17
Preface to the First Edition, 2000......Page 22
Acknowledgments......Page 27
One: The Stock Market in Historical Perspective......Page 30
Two: The Bond Market in Historical Perspective......Page 40
Three: The Real Estate Market in Historical Perspective......Page 47
Part One Structural Factors......Page 66
Four: Precipitating Factors: The Internet, the Capitalist Explosion, and Other Events......Page 67
Five: Amplification Mechanisms: Naturally Occurring Ponzi Processes......Page 98
Part Two Cultural Factors......Page 126
Six: The News Media......Page 127
Seven: New Era Economic Thinking......Page 149
Eight: New Eras and Bubbles around the World......Page 176
Part Three Psychological Factors......Page 189
Nine: Psychological Anchors for the Market......Page 191
Ten: Herd Behavior and Epidemics......Page 201
Part Four Attempts to Rationalize Exuberance......Page 219
Eleven: Efficient Markets, Random Walks, and Bubbles......Page 220
Twelve: Investor Learningβand Unlearning......Page 239
Part Five A Call to Action......Page 248
Thirteen: Speculative Volatility in a Free Society......Page 249
Appendix Nobel Prize Lecture: Speculative Asset Prices......Page 262
Notes......Page 303
References......Page 343
Index......Page 361
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