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	Financial Market Bubbles And Crashes by Harold L. Vogel
	Price : Rs 595.00
	Your Price : Rs 487.90

Despite the thousands of articles and the millions of
times that the word `bubble` has been used in the
business press, there still does not appear to be a
cohesive theory or persuasive empirical approach with
which to study `bubble` and `crash` conditions. This
book presents a plausible and accessible descriptive
theory and empirical approach to the analysis of such
financial market conditions. It advances such a
framework through application of standard econometric
methods to its central idea, which is that financial
bubbles reflect urgent short side rationed demand. From
this basic idea, an elasticity of variance concept is
developed. It is further shown that a behavioral risk
premium can probably be measured and related to the
standard equity risk premium models in a way that is
consistent with conventional theory.isbn-9780521263306

Pages : 384