Shiller, Robert James

The Columbia Encyclopedia, 6th ed.

Shiller, Robert James

Robert James Shiller, 1946–, American economist, b. Detroit, grad. Univ. of Michigan (B.A., 1967), Massachusetts Institute of Technology (S.M., 1968; Ph.D., 1972). A professor at Yale since 1982, Shiller is an influential advocate of "behavioral finance," which appropriates principles and insights found in other academic fields, particularly psychology, and applies them to economics. He has also worked in such areas as financial markets, macroeconomics, statistics, and real estate. In 2013 he shared the Nobel Memorial Prize in Economic Sciences with Eugene F. Fama and Lars Peter Hansen for work they separately did in the empirical analyis of asset prices. Shiller showed, beginning with a 1981 study of the relationship between stock prices and dividends, that despite short-term volatility returns on stocks follow a predictable pattern over the long term. In the early 1990s he and fellow economist Karl Case developed the Case-Shiller home price indexes. In his prescient, best-selling Irrational Exhuberance (2000), Shiller examined the 1980s–90s market boom and dot-com bust and, in its 2005 updated edition, the housing bubble, explaining the factors that led to the huge overvaluation and precipitous decline in the markets. His other books include Market Volatility (1989), New Financial Order: Risk in the 21st Century (2003), Subprime Solution: How Today's Global Financial Crisis Happened and What to Do about It (2008), Animal Spirits: How Human Psychology Drives the Economy and Why It Matters for Global Capitalism (with G. A. Akerlof, 2009), and Finance and the Good Society (2012).

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Shiller, Robert James
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.