Bubbles, Human Judgment, and Expert Opinion

261 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

Money flows like mercury: the geography of global finance (2005, background): “In the aftermath of the DOT.COM bubble, many commentators believe that global markets have returned to a concern with value as expressed by the price/earnings (P/E) ratio and the like (Shiller, 2002).”
Performing finance: the industry, the media and its image (2004, background): “While financial institutions may have been privately alarmed by the escalation in stock-prices (though not all were), they were also driven by audience expectations and the tyranny of benchmarks (Shiller, 2002).”
Why Should They Care? The Role of Institutional Investors in the Market for Corporate Global Responsibility (2005, background): “Considering that the Standard & Poor 500 long-term P/E ratio is about 15, it would seem that firm A is undervalued and firm B is overvalued (Shiller, 2002).”
From Efficient Markets Theory to Behavioral Finance (2003, unknown): “The actual price is still more volatile than the present value, especially for the latest half century.”
True Overconfidence: The Inability of Rational Information Processing to Account for Apparent Overconfidence (2011, unknown): “…trading volume (Barber and Odean, 2000; Glaser and Weber, 2007; Odean, 1998), to the emergence of stock market bubbles (Scheinkman and Xiong, 2003; Shiller, 2002), to corporate investment decisions (Gervais, Heaton, and Odean, 2003; Malmendier and Tate, 2005), and to the predictability of market…”