Irrational Exuberance: Revised and Expanded Third Edition

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Review ------ "Robert J. Shiller, Co-Winner of the 2013 Nobel Prize in Economics" "Winner of the 2000 Commonfund Prize for the Best Contribution to Endowment Management Research" "Robert J. Shiller . . . has done more than any other economist of his generation to document the less rational aspects of financial markets."---Paul Krugman, New York Times "Irrational Exuberance is not just a prophecy of doom. . . . [I]t is a serious attempt to explain how speculative bubbles come about and how they sustain themselves."---John Cassidy, New Yorker "What set off this speculation and what feeds it? Shiller ranges widely his explanations, laying them out in the first 168 pages in easy-to-read, sometimes passionate prose. . . . [T]hose first 168 pages are must reading for anyone with savings invested in stocks."---Louis Uchitelle, New York Times Book Review "Mr. Shiller's book offers a dose of realism. . . . [I]t presents a message investors would be wise to head: Make sure your portfolio is adequately diversified. Save more and don't count on double-digit gains of the past decades continuing to bail you out during retirement."---Burton G. Malkiel, Wall Street Journal "Informative and well-argued . . . A calm and reasonable antidote to today's euphoria."---Jeff Madrick, New York Review of Books "Although its message may be unwelcome to many, this important book should be read by anyone interested in economics or the stock markets."---Rene M. Stulz, Science "Dazzling, richly textured, provocative . . By far the most important book about the stock market since Jeremy J. Siegel's Stocks for the Long Run."---William Wolman, Business Week "Shiller has provided an accessible guide to the usually impenetrable literature on financial markets, especially the American stock market."--Foreign Affairs About the Author ---------------- Robert J. Shiller, the recipient of the 2013 Nobel Prize in economics, is a best-selling author, a regular contributor to the Economic View column of the New York Times, and a professor of economics at Yale University. His books include Finance and the Good Society, Animal Spirits (cowritten with George A. Akerlof), The Subprime Solution, and The New Financial Order (all Princeton). He lives in New Haven, Connecticut.