A Crisis of Beliefs : : Investor Psychology and Financial Fragility / / Andrei Shleifer, Nicola Gennaioli.
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 pos...
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Gennaioli, Nicola, author. aut http://id.loc.gov/vocabulary/relators/aut A Crisis of Beliefs : Investor Psychology and Financial Fragility / Andrei Shleifer, Nicola Gennaioli. Princeton, NJ : Princeton University Press, [2018] ©2018 1 online resource (264 p.) text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- CONTENTS -- ACKNOWLEDGMENTS -- Introduction -- CHAPTER 1 The Financial Crisis of 2008 -- CHAPTER 2 What Were They Thinking? -- CHAPTER 3 A Neglected Risk Model of the Financial Crisis -- CHAPTER 4 Extrapolation in Financial Markets -- CHAPTER 5 Representativeness and Diagnostic Beliefs -- CHAPTER 6 Diagnostic Expectations and Credit Cycles -- CHAPTER 7 Open Problems -- Appendix: Proofs -- References -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star 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. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 27. Sep 2021) Global Financial Crisis, 2008-2009 Psychological aspects. Stockholders United States Attitudes. BUSINESS & ECONOMICS / Economic History. bisacsh Shleifer, Andrei, author. aut http://id.loc.gov/vocabulary/relators/aut Title is part of eBook package: De Gruyter Princeton University Press Complete eBook-Package 2018 9783110606591 print 9780691182506 https://doi.org/10.23943/9780691184920?locatt=mode:legacy https://www.degruyter.com/isbn/9780691184920 Cover https://www.degruyter.com/document/cover/isbn/9780691184920/original |
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English |
format |
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author |
Gennaioli, Nicola, Gennaioli, Nicola, Shleifer, Andrei, |
spellingShingle |
Gennaioli, Nicola, Gennaioli, Nicola, Shleifer, Andrei, A Crisis of Beliefs : Investor Psychology and Financial Fragility / Frontmatter -- CONTENTS -- ACKNOWLEDGMENTS -- Introduction -- CHAPTER 1 The Financial Crisis of 2008 -- CHAPTER 2 What Were They Thinking? -- CHAPTER 3 A Neglected Risk Model of the Financial Crisis -- CHAPTER 4 Extrapolation in Financial Markets -- CHAPTER 5 Representativeness and Diagnostic Beliefs -- CHAPTER 6 Diagnostic Expectations and Credit Cycles -- CHAPTER 7 Open Problems -- Appendix: Proofs -- References -- Index |
author_facet |
Gennaioli, Nicola, Gennaioli, Nicola, Shleifer, Andrei, Shleifer, Andrei, Shleifer, Andrei, |
author_variant |
n g ng n g ng a s as |
author_role |
VerfasserIn VerfasserIn VerfasserIn |
author2 |
Shleifer, Andrei, Shleifer, Andrei, |
author2_variant |
a s as |
author2_role |
VerfasserIn VerfasserIn |
author_sort |
Gennaioli, Nicola, |
title |
A Crisis of Beliefs : Investor Psychology and Financial Fragility / |
title_sub |
Investor Psychology and Financial Fragility / |
title_full |
A Crisis of Beliefs : Investor Psychology and Financial Fragility / Andrei Shleifer, Nicola Gennaioli. |
title_fullStr |
A Crisis of Beliefs : Investor Psychology and Financial Fragility / Andrei Shleifer, Nicola Gennaioli. |
title_full_unstemmed |
A Crisis of Beliefs : Investor Psychology and Financial Fragility / Andrei Shleifer, Nicola Gennaioli. |
title_auth |
A Crisis of Beliefs : Investor Psychology and Financial Fragility / |
title_alt |
Frontmatter -- CONTENTS -- ACKNOWLEDGMENTS -- Introduction -- CHAPTER 1 The Financial Crisis of 2008 -- CHAPTER 2 What Were They Thinking? -- CHAPTER 3 A Neglected Risk Model of the Financial Crisis -- CHAPTER 4 Extrapolation in Financial Markets -- CHAPTER 5 Representativeness and Diagnostic Beliefs -- CHAPTER 6 Diagnostic Expectations and Credit Cycles -- CHAPTER 7 Open Problems -- Appendix: Proofs -- References -- Index |
title_new |
A Crisis of Beliefs : |
title_sort |
a crisis of beliefs : investor psychology and financial fragility / |
publisher |
Princeton University Press, |
publishDate |
2018 |
physical |
1 online resource (264 p.) Issued also in print. |
contents |
Frontmatter -- CONTENTS -- ACKNOWLEDGMENTS -- Introduction -- CHAPTER 1 The Financial Crisis of 2008 -- CHAPTER 2 What Were They Thinking? -- CHAPTER 3 A Neglected Risk Model of the Financial Crisis -- CHAPTER 4 Extrapolation in Financial Markets -- CHAPTER 5 Representativeness and Diagnostic Beliefs -- CHAPTER 6 Diagnostic Expectations and Credit Cycles -- CHAPTER 7 Open Problems -- Appendix: Proofs -- References -- Index |
isbn |
9780691184920 9783110606591 9780691182506 |
geographic_facet |
United States |
url |
https://doi.org/10.23943/9780691184920?locatt=mode:legacy https://www.degruyter.com/isbn/9780691184920 https://www.degruyter.com/document/cover/isbn/9780691184920/original |
illustrated |
Not Illustrated |
doi_str_mv |
10.23943/9780691184920?locatt=mode:legacy |
oclc_num |
1044733766 |
work_keys_str_mv |
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(DE-B1597)501226 (OCoLC)1044733766 |
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cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Princeton University Press Complete eBook-Package 2018 |
is_hierarchy_title |
A Crisis of Beliefs : Investor Psychology and Financial Fragility / |
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Title is part of eBook package: De Gruyter Princeton University Press Complete eBook-Package 2018 |
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