We asked Yale SOM’s Robert Shiller, whose latest book is 'Narrative Economics,' to tell us what collective stories are forming around the pandemic and what they might mean for our economic future.
Nobel Prize-winning Yale economist Robert Shiller examines how the stories we tell about our lives and our society can spread from person to person, changing shared perceptions of events and shaping economic behavior.
In an excerpt from his new book, Yale SOM’s Robert Shiller examines how the stock market rise of the 1920s, the crash of 1929, and the Great Depression that followed came to be seen as a tale of recklessness and divine punishment—and how that narrative still shapes our understanding of the stock market.
- The best explanation for why prices go up, Yale's Robert Shiller writes, may be that we expect them to—until we don’t.
- We are overdue for a recession, but economists can't say with much certainty when it will arrive.
A new paper looking at how investors assess the risk of a stock market crash in the next six months argues that negative media coverage of markets can play a role in investment decisions.
- In a New York Times commentary, Yale’s Robert Shiller writes that attempts to measure the fundamental value of Bitcoin are intrinsically absurd.
- We asked Professor Robert Shiller, who has written about the economic and psychological aspects of market speculation, if Bitcoin is a bubble.
- In a New York Times commentary, Yale SOM's Robert Shiller says that investors can’t consistently beat the market by copying the strategy of a lone genius.
- Yale SOM's Robert Shiller writes that widely repeated narratives of getting rich in real estate drove a housing bubble a decade ago—and could do so again.