Market Volatility
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Market Volatility
Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?
Proposing a theory, backed by statistical evidence, on the causes of price fluctuations in speculative markets, this text challenges the standard efficient-markets model for explaining asset prices. It emphasizes the role popular opinion or psychology can play in price volatility.
Shiller's book should be read by anyone with a serious interest in the functioning of markets. -- Richard A. Grasso, President and Chief Operating Officer, New York Stock Exchange A specter haunts modern economics: 'individual stocks perform random walks in efficient markets, but the level of the whole market displays no demonstrable efficiency.' Bob Shiller is the key economist in this great debate. Buy his book and think on its contents. Learn what the October 1987 crash was all about. -- Paul Samuelson, Institute Professor, MIT
Market Volatility proposes an innovative theory, backed by substantial statistical evidence, on the causes of price fluctuations in speculative markets. It challenges the standard efficient-markets model for explaining asset prices by emphasizing the significant role that popular opinion or psychology can play in price volatility.
Offering detailed analyses of the stock, the bond, and the real estate markets, Shiller discusses the relations of these speculative prices and extends the analysis of speculative markets to macroeconomic activity in general.
Series: Market Volatility
View allBook Hero Magic summarised reviews for this book. While it's new and still learning, it may not be perfect - your feedback is welcome! HOW HAS THIS BEEN REVIEWED?
"Shiller's book should be read by anyone with a serious interest in the functioning of markets," states Richard A. Grasso, former President and COO of the New York Stock Exchange. Paul Samuelson, Institute Professor at MIT, highlights it as essential reading to understand the dynamics behind market behaviour, especially events like the 1987 stock market crash.
Book Details
INFORMATION
ISBN: 9780262691512
Publisher: MIT Press Ltd
Format: Paperback / softback
Date Published: 30 January 1992
Country: United States
Imprint: MIT Press
Audience: Tertiary education, Professional and scholarly
DIMENSIONS
Spine width: 24.0mm
Width: 152.0mm
Height: 229.0mm
Weight: 771g
Pages: 480
About the Author
Robert J. Shiller is Sterling Professor of Economics at Yale University. He is the author of Finance and the Good Society and other books.
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