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Robert J. Shiller

Robert J. Shiller is Arthur M. Okun Professor of Economics at Yale University. He is the author of Irrational Exuberance, Animal Spirits: How Human Psychology Drives the Economy and Why It Matters for Global Capitalism (with George B. Akerlof), and other books.

Titles by This Author

Market Volatility

By Robert J. Shiller

Market Volatility proposes an innovative theory, backed by substantial statistical evidence, on the causes of price fluctuations in speculative markets. It challenges the standard efficient-markets model for explaining asset prices by emphasizing the significant role that popular opinion or psychology can play in price volatility.

Offering detailed analyses of the stock, the bond, and the real estate markets, Shiller discusses the relations of these speculative prices and extends the analysis of speculative markets to macroeconomic activity in general.