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Speculation, Trading, and Bubbles (Kenneth J. Arrow Lecture Series)

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Speculation, Trading, and Bubbles (Kenneth J. Arrow Lecture Series)

4.85 77,647 ratings · 3,892 reviews
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Overview: As long as there have been financial markets, there have been bubbles -- those moments in which asset prices inflate far beyond their intrinsic value, often with ruinous results. Yet economists are slow to agree on the underlying forces behind these events. In this book Jos? A. Scheinkman offers new insight into the mystery of bubbles. Noting some general characteristics of bubbles -- such as the rise in trading volume and the coincidence between increases in supply and bubble implosions -- Scheinkman offers a model, based on differences in beliefs among investors, that explains these observations.Other top economists also offer their own thoughts on the issue: Sanford J. Grossman and Patrick Bolton expand on Scheinkman's discussion by looking at factors that contribute to bubbles -- such as excessive leverage, overconfidence, mania, and panic in speculative markets -- and Kenneth J. Arrow and Joseph E. Stiglitz contextualize Scheinkman's findings.

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Book details & editions

ISBN
19144949
Publication date
July 9, 2013
Pages
N/A pages
Reading Options
PDF · EPUB · Mobi
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José A. Scheinkman
About the Author
José A. Scheinkman
14,582 Followers

José A. Scheinkman is a writer and avid reader based in the Pacific Northwest. Before pursuing writing full-time, they spent over a decade working in education. When not working on their next book, José A. Scheinkman can usually be found hiking with their dog or trying out new coffee shops in their neighborhood.

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Anthony Cruz
Anthony Cruz November 23, 2024
Exceeded all my expectations. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.
Richard Williams
Richard Williams July 11, 2025
Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
Donna Sanchez
Donna Sanchez November 05, 2024
Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem.
Nicholas Ramirez
Nicholas Ramirez December 21, 2024
A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. Quite impressive overall.
Patricia Allen
Patricia Allen May 30, 2025
Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.
Rebecca Gomez
Rebecca Gomez October 26, 2024
A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.
Matthew Allen
Matthew Allen August 09, 2024
Excellent, though slightly flawed. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend.
Emily Smith
Emily Smith October 06, 2024
It was adequate. It verged on repetitive in the second act. A more concise edit would have served it well. Unlikely to reread, but a reasonable expenditure of time.
Patricia Walker
Patricia Walker December 10, 2025
A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers.
Carol Rodriguez
Carol Rodriguez January 11, 2025
Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
John Hall
John Hall June 28, 2025
I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel.
Sharon Jones
Sharon Jones September 01, 2025
Exceeded all my expectations. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author.
Edward Jones
Edward Jones October 26, 2024
Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author.
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I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A very distinguished novel.
Nicholas Garcia
Nicholas Garcia December 16, 2024
A decent, if standard, experience. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Unlikely to reread, but a reasonable expenditure of time.
Emily Thompson
Emily Thompson April 04, 2024
I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend.
David Harris
David Harris February 04, 2025
A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
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Nancy Campbell March 09, 2025
A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
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Donna Lee July 23, 2024
A decent, if standard, experience. Certain acts were fascinating, while others felt like a slight endeavor to complete. Unlikely to reread, but a reasonable expenditure of time.
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Excellent, though slightly flawed. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel.
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Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
Betty  Davis
Betty Davis March 20, 2025
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I find myself somewhat conflicted. It verged on repetitive in the second act. A more concise edit would have served it well. Suitable if your reading queue is empty.
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Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars.
Kevin Garcia
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It was adequate. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Suitable if your reading queue is empty.
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Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading.
Margaret Hill
Margaret Hill September 08, 2024
Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall.
Christopher Gomez
Christopher Gomez April 15, 2024
I find myself somewhat conflicted. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Suitable if your reading queue is empty.
Patricia Lee
Patricia Lee January 12, 2025
A highly sophisticated read. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend.
Ashley Rodriguez
Ashley Rodriguez June 03, 2024
A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. Quite impressive overall.
Anthony Scott
Anthony Scott January 30, 2025
Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers.
Susan Williams
Susan Williams December 28, 2025
Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers.
Susan Williams
Susan Williams June 03, 2025
Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece.
Michael Mitchell
Michael Mitchell September 11, 2024
A decent, if standard, experience. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Perfectly average.
John Garcia
John Garcia January 29, 2025
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Christopher Baker
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I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers.
Patricia Lee
Patricia Lee May 27, 2025
Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A solid 4 stars from me.
Robert Hernandez
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Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre.
Paul Phillips
Paul Phillips April 06, 2025
Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
Richard Nguyen
Richard Nguyen September 16, 2025
Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author.
Kimberly Evans
Kimberly Evans March 03, 2025
Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
Brian Anderson
Brian Anderson February 28, 2024
A highly sophisticated read. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall.
Steven Ramirez
Steven Ramirez June 20, 2025
Absolutely brilliant. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece.
Kenneth Perez
Kenneth Perez July 23, 2025
A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre.
Laura Ramirez
Laura Ramirez March 14, 2025
Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading.
Sandra Young
Sandra Young March 20, 2025
A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading.
Melissa Collins
Melissa Collins January 14, 2024
Excellent, though slightly flawed. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel.
Nicholas Lewis
Nicholas Lewis January 06, 2024
A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel.
Carol Flores
Carol Flores February 19, 2025
Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall.
Amanda Ramirez
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Excellent, though slightly flawed. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me.
Lisa  Davis
Lisa Davis July 08, 2025
Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading.
Michelle Thompson
Michelle Thompson May 06, 2024
An acceptable diversion. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Unlikely to reread, but a reasonable expenditure of time.
Mark Clark
Mark Clark December 24, 2025
Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
David Lewis
David Lewis May 22, 2025
A decent, if standard, experience. The prose was competent, yet the characters lacked the depth I usually seek. Perfectly average.
Jacob Wilson
Jacob Wilson June 03, 2025
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Sharon Mitchell
Sharon Mitchell March 11, 2024
Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
Dorothy Thomas
Dorothy Thomas August 15, 2025
I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend.
Michael Martin
Michael Martin January 19, 2024
Excellent, though slightly flawed. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers.
Betty Sanchez
Betty Sanchez March 05, 2025
A very strong entry. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me.
Donna Lee
Donna Lee December 05, 2025
Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars.
Eric  Davis
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Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre.
Lisa  Davis
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I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre.
Eric  Davis
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Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading.
Daniel Miller
Daniel Miller June 04, 2024
Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author.
Christopher Torres
Christopher Torres July 01, 2025
Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece.
Kimberly Wright
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I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
David Lewis
David Lewis June 07, 2024
Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
Elizabeth Evans
Elizabeth Evans November 01, 2025
I find myself somewhat conflicted. The prose was competent, yet the characters lacked the depth I usually seek. A fair 3 stars.
Steven Evans
Steven Evans June 30, 2024
Excellent, though slightly flawed. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers.
Anthony Edwards
Anthony Edwards September 21, 2025
Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
Michelle Robinson
Michelle Robinson April 11, 2024
Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre.
Barbara Scott
Barbara Scott July 08, 2025
A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. A very distinguished novel.
Edward Jones
Edward Jones August 23, 2024
Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece.
Patricia Jones
Patricia Jones August 08, 2025
Not entirely to my refined tastes. Certain acts were fascinating, while others felt like a slight endeavor to complete. A fair 3 stars.
Rebecca Gomez
Rebecca Gomez August 15, 2025
A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. Quite impressive overall.
Jennifer Carter
Jennifer Carter December 02, 2025
Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. Quite impressive overall.
Edward Sanchez
Edward Sanchez July 18, 2024
Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Margaret Walker
Margaret Walker February 07, 2025
A very strong entry. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A very distinguished novel.
Steven Lewis
Steven Lewis November 12, 2024
A profoundly satisfying read. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars.
Richard Baker
Richard Baker March 29, 2025
A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me.
Kenneth Turner
Kenneth Turner January 02, 2024
I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre.
Deborah Allen
Deborah Allen January 08, 2024
Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem.
Michael Smith
Michael Smith June 04, 2024
Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
Brian Flores
Brian Flores December 27, 2024
Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
Stephanie Hall
Stephanie Hall November 18, 2025
Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
Donna Martin
Donna Martin February 11, 2025
A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre.
Cynthia Torres
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Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A very distinguished novel.
Donna Perez
Donna Perez February 12, 2025
A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece.
Ryan Martinez
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Donna Sanchez
Donna Sanchez April 11, 2024
Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars.
Mark Jones
Mark Jones May 12, 2025
I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
Ryan Lopez
Ryan Lopez October 16, 2025
Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
Steven Lewis
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An acceptable diversion. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Suitable if your reading queue is empty.
David Jones
David Jones September 12, 2025
Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
Patricia Green
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Nancy White
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Absolutely brilliant. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars.
Deborah Baker
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Sharon Scott
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Nancy White
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Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. A wonderful companion for a quiet weekend.
John Mitchell
John Mitchell August 29, 2024
Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel.
Sharon Flores
Sharon Flores February 19, 2024
Took a moment to build, but the payoff was spectacular. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend.
Ashley Carter
Ashley Carter February 15, 2024
A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers.
Margaret Walker
Margaret Walker September 13, 2025
Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. I would highly recommend this to discerning readers.
Christopher Moore
Christopher Moore July 06, 2025
A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem.
Thomas Sanchez
Thomas Sanchez October 17, 2025
Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars.
Margaret Jackson
Margaret Jackson July 08, 2024
Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. A wonderful companion for a quiet weekend.
Susan Hall
Susan Hall October 30, 2024
Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.
Emily Wilson
Emily Wilson August 12, 2025
Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading.
Carol Diaz
Carol Diaz April 19, 2024
Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem.
Anthony Scott
Anthony Scott November 18, 2025
A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A wonderful companion for a quiet weekend.
Ryan Sanchez
Ryan Sanchez October 06, 2024
A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A wonderful companion for a quiet weekend.
Rebecca Gonzalez
Rebecca Gonzalez November 13, 2025
A very strong entry. A brilliant concept executed with flair. Just a few pacing choices I would change. Quite impressive overall.
William Lopez
William Lopez October 07, 2024
Excellent, though slightly flawed. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers.
Donna Sanchez
Donna Sanchez April 27, 2024
I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem.
Edward Anderson
Edward Anderson February 27, 2024
Excellent, though slightly flawed. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me.
Kimberly Evans
Kimberly Evans October 23, 2025
Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece.
Michael Rodriguez
Michael Rodriguez February 29, 2024
An acceptable diversion. The prose was competent, yet the characters lacked the depth I usually seek. Perfectly average.
Sharon Scott
Sharon Scott July 24, 2024
Not entirely to my refined tastes. It verged on repetitive in the second act. A more concise edit would have served it well. Perhaps more aligned with a different audience's tastes.
Dorothy Perez
Dorothy Perez April 12, 2024
Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem.
John Hall
John Hall May 26, 2025
A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre.
Thomas Johnson
Thomas Johnson January 15, 2025
A decent, if standard, experience. The prose was competent, yet the characters lacked the depth I usually seek. Perfectly average.
Jessica Cruz
Jessica Cruz May 13, 2024
A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre.
Kenneth Lopez
Kenneth Lopez October 10, 2025
Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars.
Sandra Walker
Sandra Walker August 14, 2024
A very strong entry. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. Quite impressive overall.
Brian  Parker
Brian Parker June 13, 2025
A very strong entry. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel.
Sharon Flores
Sharon Flores April 03, 2025
I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers.
Margaret Green
Margaret Green November 27, 2024
I find myself somewhat conflicted. The prose was competent, yet the characters lacked the depth I usually seek. Perhaps more aligned with a different audience's tastes.
Paul Martin
Paul Martin May 02, 2025
Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author.
Robert  Davis
Robert Davis February 28, 2024
A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. Quite impressive overall.
Charles Rodriguez
Charles Rodriguez December 12, 2025
A very strong entry. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers.
Ashley Adams
Ashley Adams August 15, 2024
Took a moment to build, but the payoff was spectacular. It held my rapt attention, even when certain twists were telegraphed. A very distinguished novel.
Susan Lewis
Susan Lewis February 24, 2025
Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author.
Donald Jackson
Donald Jackson March 15, 2024
Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author.
William Lopez
William Lopez June 03, 2024
Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel.
David Miller
David Miller December 19, 2024
Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author.
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