Speculation, Trading, and Bubbles - Couverture rigide

Scheinkman, José A.

Couverture rigide

ISBN 10 : 0231159021 ISBN 13 : 9780231159029

Editeur : Columbia University Press, 2014

Synopsis

As long as there have been financial markets, there have been bubbles--those moments in which asset prices inflate far beyond their intrinsic value, often with ruinous results. Yet economists are slow to agree on the underlying forces behind these events. In this book José A. Scheinkman offers new insight into the mystery of bubbles. Noting some general characteristics of bubbles--such as the rise in trading volume and the coincidence between increases in supply and bubble implosions--Scheinkman offers a model, based on differences in beliefs among investors, that explains these observations.

Other top economists also offer their own thoughts on the issue: Sanford J. Grossman and Patrick Bolton expand on Scheinkman's discussion by looking at factors that contribute to bubbles--such as excessive leverage, overconfidence, mania, and panic in speculative markets--and Kenneth J. Arrow and Joseph E. Stiglitz contextualize Scheinkman's findings.

A propos du livre

À propos des auteurs

Patrick Bolton is the David Zalaznick Professor of Business at Columbia Business School. He is the co-author of Contract Theory (MIT Press, 2005) and the co-editor of Credit Markets for the Poor (Russell Sage Foundation, 2005).

Joseph E. Stiglitz is University Professor at Columbia University and a member and former chair of Columbia University's Committee on Global Thought. He was the winner of the 2001 Nobel Prize for Economics. He served on President Clinton's Council of Economic Advisors, and then joined the World Bank as chief economist and senior vice president. His most recent book is The Price of Inequality: How Today's Divided Society Endangers Our Future.

Détails de l'édition

• Éditeur: Columbia University Press
• Date d'édition: 2014
• Langue: anglais
• ISBN 10: 0231159021
• ISBN 13: 9780231159029
• Reliure: Relié
• Nombre de pages: 128
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible