Speculation, Trading, and Bubbles:

The history of financial markets is full of moments in which asset prices inflate far beyond their intrinsic value. These events are commonly called bubbles, and in this book, José A. Scheinkman and other top economists offer new explanations for this phenomenon.Scheinkman discusses some stylized fa...

Ausführliche Beschreibung

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Bibliographische Detailangaben
1. Verfasser: Scheinkman, José A. (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: New York Columbia University Press 2014
Schriftenreihe:Kenneth J. Arrow Lecture Series
Schlagworte:
Zusammenfassung:The history of financial markets is full of moments in which asset prices inflate far beyond their intrinsic value. These events are commonly called bubbles, and in this book, José A. Scheinkman and other top economists offer new explanations for this phenomenon.Scheinkman discusses some stylized facts concerning bubbles, such as high trading volume and the coincidence between bubbles' implosion and increases in supply, and he develops a model for bubbles based on differences in beliefs among investors that explains these observations. Sandy Grossman and Patrick Bolton offer commentaries on Scheinkman's work, investigating factors that contribute to bubbles, such as excessive leverage, overconfidence, mania, and panic in speculative markets. Kenneth J. Arrow and Joseph E. Stiglitz add introductory material contextualizing Scheinkman's findings
Beschreibung:Description based on publisher supplied metadata and other sources
Beschreibung:1 online resource (75 pages)
ISBN:9780231537636
9780231159029

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