Robert J. Shiller Books
Robert J. Shiller is an American economist, academic, and Nobel laureate in Economic Sciences.
Known for: Irrational Exuberance, Narrative Economics: How Stories Go Viral and Drive Major Economic Events, Phishing for Phools: The Economics of Manipulation and Deception, The New Financial Order: Risk in the 21st Century
Books by Robert J. Shiller
Irrational Exuberance
Irrational Exuberance is an influential work by economist Robert J. Shiller that examines the psychological and structural factors behind speculative bubbles in financial markets. First published in 2...
Narrative Economics: How Stories Go Viral and Drive Major Economic Events
In 'Narrative Economics', Nobel laureate Robert J. Shiller explores how popular stories and contagious narratives influence economic behavior and shape major financial events. He argues that economic ...
Phishing for Phools: The Economics of Manipulation and Deception
In this influential work, Nobel laureates George A. Akerlof and Robert J. Shiller explore how markets, while often efficient, can also exploit human psychological weaknesses. They argue that free mark...
The New Financial Order: Risk in the 21st Century
In this influential work, Nobel laureate Robert J. Shiller proposes a bold vision for reshaping the financial system to better manage the risks of modern life. He argues that advances in information t...
Key Insights from Robert J. Shiller
Historical Context
Understanding the present requires confronting history. Speculative bubbles are not new phenomena—they have appeared repeatedly over centuries. The very name 'irrational exuberance' could have described the Dutch tulip mania of the 1630s, the South Sea Bubble of the 1720s, or the stock market crash ...
From Irrational Exuberance
Market Fundamentals
In markets, the anchor of reality lies in fundamentals—earnings, dividends, productivity, and economic growth. Through careful long-term analysis, I show how, by the late 1990s, stock prices had detached dramatically from these anchors. My data series, stretching back over a century, revealed that p...
From Irrational Exuberance
Historical Perspective
When economists attempt to explain the great swings of history—the Great Depression, the stagflation of the 1970s, or the technology-driven booms of recent decades—they often rely on data: GDP contractions, price indices, or employment charts. But I want you to look deeper, into the cultural and emo...
From Narrative Economics: How Stories Go Viral and Drive Major Economic Events
Mechanisms of Narrative Spread
You might wonder: how can stories spread like epidemics? The answer lies in human psychology and communication networks. Narratives propagate through social interactions, media, and now, digital platforms that vastly accelerate contagion. The mechanism parallels epidemiology—certain stories have “hi...
From Narrative Economics: How Stories Go Viral and Drive Major Economic Events
The Concept of Phools
We begin with a simple yet unsettling idea: in every market there are ‘phools.’ The term isn’t meant to insult, but to describe people — essentially all of us at various times — who are led astray by manipulation. As we define it, a ‘phool’ is someone deceived or seduced into actions that serve anot...
From Phishing for Phools: The Economics of Manipulation and Deception
Economic Theory and Human Psychology
For decades, economists built elegant frameworks assuming that individuals act rationally: they know what they want, they gather information efficiently, and they make choices consistent with maximizing their welfare. Yet, time and again, real-world evidence has shattered this tidy picture. In our c...
From Phishing for Phools: The Economics of Manipulation and Deception
About Robert J. Shiller
Robert J. Shiller is an American economist, academic, and Nobel laureate in Economic Sciences. He is a professor of economics at Yale University and a fellow at the Yale School of Management’s International Center for Finance. Shiller is known for his pioneering work in behavioral finance and for de...
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Robert J. Shiller is an American economist, academic, and Nobel laureate in Economic Sciences. He is a professor of economics at Yale University and a fellow at the Yale School of Management’s International Center for Finance. Shiller is known for his pioneering work in behavioral finance and for de...
Robert J. Shiller is an American economist, academic, and Nobel laureate in Economic Sciences. He is a professor of economics at Yale University and a fellow at the Yale School of Management’s International Center for Finance. Shiller is known for his pioneering work in behavioral finance and for developing the Case-Shiller Home Price Index. His research has profoundly influenced understanding of market volatility and speculative behavior.
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Robert J. Shiller is an American economist, academic, and Nobel laureate in Economic Sciences.
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