Financial market bubbles and crashes / Harold L. Vogel.
2018
HG4523 .V64 2018eb
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Details
Title
Financial market bubbles and crashes / Harold L. Vogel.
Edition
Second edition.
ISBN
9783319715285 (electronic book)
3319715283 (electronic book)
9783319715278
3319715283 (electronic book)
9783319715278
Published
Cham, Switzerland : Palgrave Macmillan, [2018]
Copyright
©2018
Language
English
Description
1 online resource.
Call Number
HG4523 .V64 2018eb
Dewey Decimal Classification
332.0415
Summary
"Economists broadly define financial asset price bubbles as episodes in which prices rise with notable rapidity and depart from historically established asset valuation multiples and relationships. Financial economists have for decades attempted to study and interpret bubbles through the prisms of rational expectations, efficient markets, and equilibrium, arbitrage, and capital asset pricing models, but they have not made much if any progress toward a consistent and reliable theory that explains how and why bubbles (and crashes) evolve and can also be defined, measured, and compared. This book develops a new and different approach that is based on the central notion that bubbles and crashes reflect urgent short-side rationing, which means that, as such extreme conditions unfold, considerations of quantities owned or not owned begin to displace considerations of price."-- Provided by publisher.
Bibliography, etc. Note
Includes bibliographical references and index.
Access Note
Access limited to authorized users.
Source of Description
Online resource; title from PDF title page (viewed August 21, 2018).
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