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- 000 03016cam a2200349 i 4500
- 008 180311t20182018njua b 001 0 eng d
- 020 __ |a 9780691182506 |c CNY207.25
- 035 __ |a (OCoLC)1028524165 |z (OCoLC)1028176378 |z (OCoLC)1028546753 |z (OCoLC)1028595766
- 040 __ |a YDX |b eng |e rda |c YDX |d ZQP |d LSD |d QS5 |d IUL |d MNW |d STF |d OCLCF |d HTM |d OUN
- 100 1_ |a Gennaioli, Nicola, |e author.
- 245 12 |a A crisis of beliefs : |b investor psychology and financial fragility / |c Nicola Gennaioli and Andrei Shleifer.
- 246 30 |a Investor psychology and financial fragility
- 260 __ |a Princeton : |b Princeton University Press, |c c2018
- 300 __ |a x, 252 pages : |b illustrations ; |c 25 cm
- 336 __ |a text |b txt |2 rdacontent
- 337 __ |a unmediated |b n |2 rdamedia
- 338 __ |a volume |b nc |2 rdacarrier
- 504 __ |a Includes bibliographical references (pages 231-244) and index.
- 505 0_ |a The financial crisis of 2008 -- What were they thinking? -- A neglected risk model of the financial crisis -- Extrapolation in financial markets -- Representativeness and diagnostic beliefs -- Diagnostic expectations and credit cycles -- Open problems
- 520 __ |a "How investor expectations move markets and the economy. The 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." -- |c Provided by publisher.
- 650 _0 |a Economics |x Psychological aspects.
- 650 _0 |a Stockholders |z United States |x Attitudes.
- 650 _0 |a Global Financial Crisis, 2008-2009 |x Psychological aspects.
- 700 1_ |a Shleifer, Andrei, |e author.