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Nicola Gennaioli; Andrei Shleifer

Crisis of Beliefs: Investor Psychology and Financial Fragility

€14,95

The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Nicola Gennaioli and Andrei Shleifer walk readers through the unraveling of Lehman and the ensuing meltdown of the US financial system, and 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.

Format: Paperback
Published: USA, 2020
Publisher: Princeton University Press
Pages: 264
Language: English
ISBN 13: 9780691202235
ISBN 10: 0691202230

 

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Crisis of Beliefs: Investor Psychology and Financial Fragility

€14,95