Irrational exuberance
By: Robert J. Shiller.
Publisher: Princeton University Press
Published: 2000
Place of publication: Princeton, NJ
Language: eng
Number of pages: 296
Subjects: Stocks -- United States; Stock exchanges -- United States; Stocks -- Prices -- United States; Risk; Dow Jones industrial average
Description: "Robert J. Shiller 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 that poorer performance may be in the offing and tells us how we - as a society and individually - can respond.".

"Irrational Exuberance is for individual investors as well as investment professionals, pension-plan sponsors, and endowment managers everywhere. It will be studied by policy makers and anyone from Wall Street to Main Street who doesn't want to be caught sitting on the speculative bubble if (or when) it bursts."--BOOK JACKET.
Notes: Includes bibliographical references (p. 269-281) and index.
Table of contents: title: The stock market level in historical perspective; title: Precipitating factors: the internet, the baby boom and other events; title: Amplification merchanisms: naturally occurring Ponzi processes; title: The news media; title: New era economic thinking; title: New eras and bubbles around the world; title: Psychological anchors for the market; title: Herd behavior and epidemics; title: Efficient market, random walks, and bubbles; title: Investor learning - and unlearning; title: Speculative volatility in a free society.