Robert James Shiller - Florida

Question

This economist predicted the collapse of the US housing market in an article published one year before Lehman Brothers filed for bankruptcy. For 10 points each:

[10h] Name this Yale economist who co-authored the paper “Is There a Bubble in the Housing Market?” with an alphabetically prior Wellesley economist, with whom he also names the S&P’s CoreLogic Home Price Index.

ANSWER: Robert James Shiller [accept Case–Shiller Home Price Index]

[10e] Shiller cited unexplainable volatility in a paper challenging Eugene Fama’s efficient-market hypothesis titled for the “Prices” of these assets, which make up most mutual funds along with bonds.

ANSWER: stocks [or capital stocks or shares; accept stock exchanges or stock markets; accept “Stock Prices, Earnings, and Expected Dividends”; prompt on equities or investments]

[10m] Shiller co-authored a 2009 book with this economist titled Animal Spirits. This economist wrote about the consequences of information asymmetry through a scenario about a used car dealer in “The Market for Lemons.”

ANSWER: George Akerlof [or George Arthur Akerlof]

<Purdue, Social Science>

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Summary


California (North)	Main Site	Y	3	16.67	67%	67%	33%
California (South)	Main Site	Y	4	15.00	100%	25%	25%
Canada	Main Site	Y	12	12.50	92%	25%	8%
Florida	Main Site	Y	3	10.00	100%	0%	0%
Great Lakes	Main Site	Y	5	12.00	100%	20%	0%
Lower Mid-Atlantic	Main Site	Y	9	12.22	100%	22%	0%
Midwest	Main Site	Y	8	15.00	100%	38%	13%
Overflow	Main Site	Y	4	10.00	100%	0%	0%
South Central	Main Site	Y	2	10.00	100%	0%	0%
Southeast	Main Site	Y	7	14.29	100%	29%	14%
UK	Main Site	Y	12	9.17	75%	17%	0%
Upper Mid-Atlantic	Main Site	Y	8	17.50	100%	50%	25%
Upstate NY	Main Site	Y	4	12.50	100%	0%	25%

Data


Florida B	Central Florida A	10	10
Florida A	Central Florida B	10	10
Florida C	Central Florida C	10	10