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2210080852342 |
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20190103135236 |
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cr cnu|||unuuu |
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180716s2018 nju ob 001 0 eng d |
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▼a1045652482 |
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▼a9780691184920▼qelectronic book |
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▼a0691184925▼qelectronic book |
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▼a1822242▼b(N▼T) |
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▼a(OCoLC)1044733766▼z(OCoLC)1045652482 |
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▼aN▼beng▼erda▼epn▼cN▼dN▼dOCLCF▼dYDX▼dDEGRU▼dEBLCP▼dIDB▼dYDXIT▼d221008 |
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▼an-us--- |
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▼aHB74.P8▼bG45 2018 |
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▼aHB3717 2008 |
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▼aBUS▼x070000▼2bisacsh |
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▼a330.9730931▼223 |
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▼aGennaioli, Nicola,▼eauthor. |
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▼aA Crisis of Beliefs :▼bInvestor Psychology and Financial Fragility /▼cNicola Gennaioli and Andrei Shleifer. |
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▼aPrince ton, New Jersey :▼bPrinceton University Press,▼c[2018] |
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▼a1 online resource. |
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▼atext▼btxt▼2rdacontent |
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▼acomputer▼bc▼2rdamedia |
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▼aonline resource▼bcr▼2rdacarrier |
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▼aIncludes bibliographical references and index. |
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▼tFrontmatter --▼tCONTENTS --▼tACKNOWLEDGMENTS --▼tIntroduction --▼tCHAPTER 1 The Financial Crisis of 2008 --▼tCHAPTER 2 What Were They Thinking? --▼tCHAPTER 3 A Neglected Risk Model of the Financial Crisis --▼tCHAPTER 4 Extrapolation in Financial Markets --▼tCHAPTER 5 Representativeness and Diagnostic Beliefs --▼tCHAPTER 6 Diagnostic Expectations and Credit Cycles --▼tCHAPTER 7 Open Problems --▼tAppendix: Proofs --▼tReferences --▼tIndex |
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▼a"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."--▼cProvided by publisher. |
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▼aDescription based on online resource; title from digital title page (viewed on December 13, 2018). |
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▼aMaster record variable field(s) change: 050 |
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▼aGlobal Financial Crisis (2008-2009)▼2fast▼0(OCoLC)fst01755654 |
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▼a2008-2009▼2fast |
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▼aGlobal Financial Crisis, 2008-2009▼xPsychological aspects. |
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▼aStockholders▼zUnited States▼xAttitudes. |
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▼aBUSINESS & ECONOMICS / Industries / General.▼2bisacsh |
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▼aPsychological aspects.▼2fast▼0(OCoLC)fst01354086 |
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▼aStockholders▼xAttitudes.▼2fast▼0(OCoLC)fst01133681 |
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▼aUnited States.▼2fast▼0(OCoLC)fst01204155 |
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▼aElectronic books. |
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▼aShleifer, Andrei,▼eauthor. |
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