Irrational optimism. How reckless behavior controls markets
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Professor of Yale University, economist Robert Schiller is well known all over the world and has an outstanding scientific reputation. The author of many bestseller this time invites us to look at the nature of speculative bubbles in the stock market and real estate market. People, as a rule, underestimate the role of irrational factors in making decisions when buying or selling housing or shares. Nevertheless, it is these aspects that are more and more important for the development of these industries and, as a result, for the economy as a whole.
Armed with an impressive statistical apparatus, the author with numbers in his hands shows that he most gives rise to peak situations in the markets. Describing the historical collapses of the market, Schiller draws attention to how publications in the media, performances of famous personalities, herds or cultural traditions gradually form the dynamics of events.
Despite the fact that many evidence is based on clear mathematical and economical calculations, the book is distinguished by a light style of presentation. This is not by chance, since it is turned to a fairly wide circle of readers, and not just to specialists or market participants
Armed with an impressive statistical apparatus, the author with numbers in his hands shows that he most gives rise to peak situations in the markets. Describing the historical collapses of the market, Schiller draws attention to how publications in the media, performances of famous personalities, herds or cultural traditions gradually form the dynamics of events.
Despite the fact that many evidence is based on clear mathematical and economical calculations, the book is distinguished by a light style of presentation. This is not by chance, since it is turned to a fairly wide circle of readers, and not just to specialists or market participants
Author:
Author:Schiller R .
Cover:
Cover:Hard
Category:
- Category:Business & Money
- Category:Politics & Social Science
ISBN:
ISBN:978-5-9614-6199-2
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