What is Robert J. Shiller known for?
I am known for my research on asset price volatility and for coining the term 'irrational exuberance' in relation to speculative bubbles. My work, often drawing on historical data and behavioral insights, highlights how psychological factors and the spread of narratives can significantly influence financial markets, leading to price movements that seem detached from fundamental values. This has led to developments like the CAPE ratio, which attempts to smooth out short-term fluctuations for better long-term valuation.
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