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Speculation, Trading, and Bubbles (Hardcover)
Loot Price: R450
Discovery Miles 4 500
You Save: R73
(14%)
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Speculation, Trading, and Bubbles (Hardcover)
Series: Kenneth J. Arrow Lecture Series
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List price R523
Loot Price R450
Discovery Miles 4 500
You Save R73 (14%)
Expected to ship within 12 - 17 working days
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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 Jose 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.
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