03593nam 2200733 450 991080888940332120230629171953.00-231-53763-810.7312/sche15902(CKB)3710000000126682(EBL)1708621(SSID)ssj0001265463(PQKBManifestationID)11748419(PQKBTitleCode)TC0001265463(PQKBWorkID)11243212(PQKB)10331985(DE-B1597)458496(OCoLC)881417253(OCoLC)984630176(DE-B1597)9780231537636(Au-PeEL)EBL1708621(CaPaEBR)ebr10887370(CaONFJC)MIL685437(PPN)233900276(PPN)203514955(MiAaPQ)EBC1708621(EXLCZ)99371000000012668220140307h20142014 uy| 0engurcnu||||||||txtccrSpeculation, trading, and bubbles /José A. Scheinkman, with Kenneth J. Arrow [and three others]Pilot project. eBook available to selected US libraries onlyNew York :Columbia University Press,[2014]©20141 online resource (137 p.)Kenneth J. Arrow lecture seriesDescription based upon print version of record.1-322-54155-8 0-231-15902-1 Includes bibliographical references and index.Front matter --CONTENTS --Foreword /Arrow, Kenneth J. --Acknowledgments /Stiglitz, Joseph E. --INTRODUCTION /Stiglitz, Joseph E. --SPECULATION, TRADING, AND BUBBLES /Scheinkman, José A. --APPENDIX: A FORMAL MODEL --COMMENTARY /Bolton, Patrick --COMMENTARY /Grossman, Sanford J. --COMMENTARY /Arrow, Kenneth J. --DISCUSSION --Notes --References --Notes on Contributors --IndexAs 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.Kenneth J. Arrow lecture series.SpeculationHistoryInvestmentsHistoryCapital marketHistoryStocksPricesHistorySpeculationHistory.InvestmentsHistory.Capital marketHistory.StocksPricesHistory.332.64/5Scheinkman José Alexandre411428Arrow Kenneth J.MiAaPQMiAaPQMiAaPQBOOK9910808889403321Speculation, trading, and bubbles4037065UNINA