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Ladataan... Bubbles and Crashes: The Boom and Bust of Technological Innovation (vuoden 2019 painos)Tekijä: Brent Goldfarb (Tekijä), David A. Kirsch (Tekijä)
TeostiedotBubbles and Crashes: The Boom and Bust of Technological Innovation (tekijä: Brent Goldfarb)
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Kirjaudu LibraryThingiin nähdäksesi, pidätkö tästä kirjasta vai et. Ei tämänhetkisiä Keskustelu-viestiketjuja tästä kirjasta. When do economic bubbles occur? The authors argue that there are key factors that determine whether market changes will lead to a bubble: (1) a bunch of naïve investors in the market; (2) genuine uncertainty about what will succeed—which parts of the business chain will make the money; (3) “pure play” possibilities, rather than existing firms with diversified interests; (4) lack of intellectual property protection, again making it uncertain which firms will control the ultimate market. It’s interesting though a little self-referential in that they only count things as bubbles when there are a bunch of naïve investors in the market in the first place. Implicitly, bubbles come because investors are always seeking to have a part of the ultimate monopolist; it is an interesting question whether robust antitrust law could change this dynamic as well. ( ) ei arvosteluja | lisää arvostelu
Financial market bubbles are recurring, often painful, reminders of the costs and benefits of capitalism. While many books have studied financial manias and crises, most fail to compare times of turmoil with times of stability. In Bubbles and Crashes, Brent Goldfarb and David A. Kirsch give us new insights into the causes of speculative booms and busts. They identify a class of assetsmajor technological innovationsthat can, but does not necessarily, produce bubbles. This methodological twist is essential: Only by comparing similar events that sometimes lead to booms and busts can we ascertain the root causes of bubbles. Using a sample of eighty-eight technologies spanning 150 years, Goldfarb and Kirsch find that four factors play a key role in these episodes: the degree of uncertainty surrounding a particular innovation, the attentive presence of novice investors, the opportunity to directly invest in companies that specialize in the technology, and whether or not a technology is a good protagonist in a narrative. Goldfarb and Kirsch consider the implications of their analysis for technology bubbles that may be in the works today, offer tools for investors to identify whether a bubble is happening, and propose policy measures that may mitigate the risks associated with future speculative episodes. Kirjastojen kuvailuja ei löytynyt. |
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Google Books — Ladataan... LajityypitMelvil Decimal System (DDC)338.064Social sciences Economics Production Efficiency Effect Of InnovationKongressin kirjaston luokitusArvio (tähdet)Keskiarvo:
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