Stock Price Bubbles - Eder, Clemens
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Bubbles are recurrent economic phenomena that frequently have far-reaching consequences for whole economies, as was the case for the "dot-com bubble" at the turn of the century or the recent real estate bubbles. Clemens Eder examines whether stock price bubbles actually exist and analyzes typical bubbles episodes from the distant and recent past. The book goes on to present the major types of explanatory models: Traditional approaches are based on rational expectations and symmetric information, demonstrating that bubbles can occur even under these restrictive assumptions. Newer models, on the…mehr

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Produktbeschreibung
Bubbles are recurrent economic phenomena that
frequently have far-reaching consequences for whole
economies, as was the case for the "dot-com bubble"
at the turn of the century or the recent real estate
bubbles. Clemens Eder examines whether stock price
bubbles actually exist and analyzes typical bubbles
episodes from the distant and recent past. The book
goes on to present the major types of explanatory
models: Traditional approaches are based on rational
expectations and symmetric information, demonstrating
that bubbles can occur even under these restrictive
assumptions. Newer models, on the other hand, allow
for irrational investors and/or asymmetric
information. Focusing on "noise trading" approaches,
several factors are identified that can lead to the
creation of bubbles. Finally, alternative
explanations derived from fields like catastrophe
theory or experimental economics are presented. The
book does not merely describe these models, but
critically analyzes, compares and evaluates them. It
thus represents an in-depth introduction to stock
price bubbles targeted at students, teachers and
researchers who are interested in capital market
theory and finance.
Autorenporträt
Clemens Eder studied International Business at the Vienna
University of Economics and Business Administration and at ESADE
Barcelona. He obtained the CEMS Master s in International
Management degree and received his university s Talenta award
for his thesis. Currently, he is working in Corporate Accounting
for OMV Aktiengesellschaft in Vienna.