{"product_id":"a-crisis-of-beliefs-nicola-gennaioli-9780691182506","title":"A Crisis of Beliefs: Investor Psychology and Financial Fragility","description":"\u003cp\u003e\u003cb\u003eHow investor expectations move markets and the economy\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eThe collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. \u003ci\u003eA Crisis of Beliefs\u003c\/i\u003e makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today's most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks. \u003cp\u003e\u003c\/p\u003eNicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people--and how financial and economic instability persist. \u003cp\u003e\u003c\/p\u003eA must-read for anyone seeking insights into financial markets, \u003ci\u003eA Crisis of Beliefs\u003c\/i\u003e shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today's unpredictable financial waters.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Nicola Gennaioli, Andrei Shleifer\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 0691182507\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9780691182506\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Princeton University Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 09\/11\/2018\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 264\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.25lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.30h x 6.10w x 1.00d\u003cbr\u003e\u003cbr\u003e\u003cb\u003eReview Citation(s): \u003c\/b\u003e\u003cbr\u003e\u003ci\u003eChoice\u003c\/i\u003e 02\/01\/2019","brand":"Nicola Gennaioli","offers":[{"title":"Hardcover","offer_id":44045174407423,"sku":"9780691182506","price":29.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_ef428e1c-2126-4a5b-9630-b3cdbc26afc6.jpg?v=1684977176","url":"https:\/\/www.whiterainbookhouse.com\/products\/a-crisis-of-beliefs-nicola-gennaioli-9780691182506","provider":"WR Book House","version":"1.0","type":"link"}