Matches in SemOpenAlex for { <https://semopenalex.org/work/W2970464108> ?p ?o ?g. }
Showing items 1 to 62 of
62
with 100 items per page.
- W2970464108 endingPage "4" @default.
- W2970464108 startingPage "1" @default.
- W2970464108 abstract "What causes technology bubbles? The book Bubbles and Crashes: The Boom and Bust of Technological Innovation seeks to answer this simple, yet ambitious question. The research question is motivated in a compelling way: understanding the causes of bubbles is important, because bubbles are not only inefficient at the collective level, but also potentially damaging to the individuals who invest in them. More importantly, the fact that such episodes have happened recurrently throughout the history suggests that there lacks proper policy intervention to avoid bubbles, and that our understanding of them is inadequate. Based on a series of historical case studies, Goldfarb and Kirsch provide a fascinating account for financial market turmoil driven by technological innovations. In this book, bubbles are defined as extreme price fluctuations associated with foolish, or irrational, behavior. Put differently, bubbles are a subcategory of boom and bust episodes in which “investors drive up prices and get fooled” (p. 24). In other words, an episode of dramatic price fluctuations may be considered as a mere boom-and-bust incidence or a bubble; the key distinction lies in whether one assumes the fluctuations are simply driven by poor decisions made by rational investors—as assumed by most economics who believe in efficient markets, or whether such ups-and-downs are driven by irrational speculations. While this distinction may seem trivial and arbitrary at the surface, it is actually important because it not only represents a fundamental difference in the underlying assumptions about investor beliefs and behaviors, but also has completely different policy implications. The former implies that all the extreme fluctuations in asset prices are just reasonable bets gone bad, and that such swings in asset prices are just a normal feature of capitalism, leaving no room for any policy intervention. Yet, the latter implies that there could be some policy response to help investors make more informed decisions, thereby preventing such events in the future." @default.
- W2970464108 created "2019-09-05" @default.
- W2970464108 creator A5041394400 @default.
- W2970464108 creator A5048199183 @default.
- W2970464108 date "2019-08-26" @default.
- W2970464108 modified "2023-09-25" @default.
- W2970464108 title "Review of Bubbles and Crashes: The Boom and Bust of Technological Innovation" @default.
- W2970464108 doi "https://doi.org/10.1093/sf/soz121" @default.
- W2970464108 hasPublicationYear "2019" @default.
- W2970464108 type Work @default.
- W2970464108 sameAs 2970464108 @default.
- W2970464108 citedByCount "0" @default.
- W2970464108 crossrefType "journal-article" @default.
- W2970464108 hasAuthorship W2970464108A5041394400 @default.
- W2970464108 hasAuthorship W2970464108A5048199183 @default.
- W2970464108 hasConcept C118084267 @default.
- W2970464108 hasConcept C127413603 @default.
- W2970464108 hasConcept C133425853 @default.
- W2970464108 hasConcept C141441539 @default.
- W2970464108 hasConcept C162324750 @default.
- W2970464108 hasConcept C165556158 @default.
- W2970464108 hasConcept C201543015 @default.
- W2970464108 hasConcept C2524010 @default.
- W2970464108 hasConcept C2778929795 @default.
- W2970464108 hasConcept C33923547 @default.
- W2970464108 hasConcept C556758197 @default.
- W2970464108 hasConcept C87717796 @default.
- W2970464108 hasConcept C94931360 @default.
- W2970464108 hasConceptScore W2970464108C118084267 @default.
- W2970464108 hasConceptScore W2970464108C127413603 @default.
- W2970464108 hasConceptScore W2970464108C133425853 @default.
- W2970464108 hasConceptScore W2970464108C141441539 @default.
- W2970464108 hasConceptScore W2970464108C162324750 @default.
- W2970464108 hasConceptScore W2970464108C165556158 @default.
- W2970464108 hasConceptScore W2970464108C201543015 @default.
- W2970464108 hasConceptScore W2970464108C2524010 @default.
- W2970464108 hasConceptScore W2970464108C2778929795 @default.
- W2970464108 hasConceptScore W2970464108C33923547 @default.
- W2970464108 hasConceptScore W2970464108C556758197 @default.
- W2970464108 hasConceptScore W2970464108C87717796 @default.
- W2970464108 hasConceptScore W2970464108C94931360 @default.
- W2970464108 hasIssue "4" @default.
- W2970464108 hasLocation W29704641081 @default.
- W2970464108 hasOpenAccess W2970464108 @default.
- W2970464108 hasPrimaryLocation W29704641081 @default.
- W2970464108 hasRelatedWork W1550845933 @default.
- W2970464108 hasRelatedWork W2038800118 @default.
- W2970464108 hasRelatedWork W2164220690 @default.
- W2970464108 hasRelatedWork W2170353308 @default.
- W2970464108 hasRelatedWork W2939515543 @default.
- W2970464108 hasRelatedWork W2981446039 @default.
- W2970464108 hasRelatedWork W3121986865 @default.
- W2970464108 hasRelatedWork W3123983307 @default.
- W2970464108 hasRelatedWork W3125565219 @default.
- W2970464108 hasRelatedWork W4200051604 @default.
- W2970464108 hasVolume "98" @default.
- W2970464108 isParatext "false" @default.
- W2970464108 isRetracted "false" @default.
- W2970464108 magId "2970464108" @default.
- W2970464108 workType "article" @default.