Speculation, Trading, and Bubbles by José Scheinkman

Speculation, Trading, and Bubbles

byJosé ScheinkmanAs told byKenneth Arrow, Patrick Bolton

Hardcover | July 8, 2014

not yet rated|write a review

Pricing and Purchase Info

$26.00

Earn 130 plum® points

In stock online

Ships free on orders over $25

Available in stores

about

As 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.

About The Author

José A. Scheinkman is the Edwin W. Rickert Professor of Economics at Columbia University and the Theodore Wells '29 Professor of Economics Emeritus at Princeton University. He is best known for his work on dynamic optimization, oligopoly theory, nonlinear dynamics, social interactions, and bubbles in financial markets. He is a member ...

Details & Specs

Title:Speculation, Trading, and BubblesFormat:HardcoverDimensions:128 pagesPublished:July 8, 2014Publisher:Columbia University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0231159021

ISBN - 13:9780231159029

Look for similar items by category:

Nearby Stores

We found 0 nearby stores

Customer Reviews of Speculation, Trading, and Bubbles

Reviews

Extra Content

Read from the Book

Read an excerpt from Speculation, Trading, and Bubbles:

Table of Contents

Foreword, by Kenneth J. ArrowAcknowledgments, by Joseph E. StiglitzIntroduction, by Joseph E. StiglitzSpeculation, Trading, and Bubbles, by José A. ScheinkmanAppendix: A Formal ModelCommentary, by Patrick BoltonCommentary, by Sanford J. GrossmanCommentary, by Kenneth J. ArrowDiscussionNotesReferencesNotes on ContributorsIndex

Editorial Reviews

Investment professionals? might be intrigued by, if not convinced of, the regular pattern of [speculative trading] bubbles as presented in this short volume ? [these] discussions - involving Scheinkman and the eminent academics Kenneth Arrow, Patrick Bolton, Sanford Grossman, and Joseph Stiglitz - are worth the price of the book.