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A crisis of beliefs : investor psychology and financial fragility / Nicola Gennaioli and Andrei Shleifer

By: Contributor(s): Resource type: Ressourcentyp: BuchBookLanguage: English Publisher: Princeton ; Oxford : Princeton University Press, [2018]Copyright date: © 2018Description: x, 252 Seiten : DiagrammeISBN:
  • 9780691182506
Subject(s): Additional physical formats: 0691184925. | 9780691184920. | Erscheint auch als: A crisis of beliefs. Online-Ausgabe Princeton : Princeton University Press, 2018. 1 Online-Ressource (x, 252 Seiten) | Erscheint auch als: A Crisis of Beliefs. Online-Ausgabe Princeton, NJ : Princeton University Press, 2018. 1 Online-Ressource (1 online resource)DDC classification:
  • 330.9730931 23
RVK: RVK: QK 626 | QK 640LOC classification:
  • HB3717 2008
Summary: How investor expectations move markets and the economyThe collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. A Crisis of Beliefs makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today’s most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks.Nicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people—and how financial and economic instability persist.A must-read for anyone seeking insights into financial markets, A Crisis of Beliefs shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today’s unpredictable financial waters.Call number: Grundsignatur: 2018 A 2719PPN: PPN: 102927746X
Holdings
Item type Home library Call number Status Date due Barcode
Handbibliothek Fakultät für Wirtschaftswissenschaften 2018 A 2719 Checked out Ausleihe und Einsicht nicht möglich 19.09.2038 52300405090
Total holds: 0
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