Robert J. Shiller

2013 Nobel Laureate in Economics

Distinguished Professor of Economics, Yale University

Author, Narrative Economics

One of the most far-seeing political economists of our time, Robert J. Shiller is known the world over for his brilliant forecasts of financial bubbles and his penetrating insights into market dynamics and how human psychology drives the economy. For his empirical analysis of asset prices, Robert was awarded the 2013 Nobel Prize in Economics. He has offered audiences unerring predictions of the last two bubble collapses and road map for reversing the financial crisis.

A best selling author, Dr. Shiller has written many books on finance. His new book, Narrative Economics: How Stories Go Viral and Drive Major Economic Events, offers a new way to think of the importance of popular stories that may have an economic life of their own. Using a rich array of historical examples and data, Shiller argues that studying popular stories that affect individual and collective economic behavior — what he calls “narrative economics” — has the potential to vastly improve our ability to predict, prepare for, and lessen the damage of financial crises, recessions, depressions, and other major economic events.

The stories people tell — about economic confidence or panic, housing booms, the American dream, or Bitcoin — affect economic outcomes. Narrative Economics explains how we can begin to take these stories seriously. It may be Robert Shiller’s most important book to date. Shiller is also the author or co-author of several other finance books, including Phishing for Phools: The Economics of Manipulation and Deception (coauthor George Akerloff), the New York Times bestseller Irrational Exuberance, published in March 2000 and a revised/expanded Third Edition, NYT bestseller, (with Akerloff) Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism, The Subprime Solution, and Finance and the Good Society. He is also the author of The New Financial Order.

Robert is a famously successful innovator in the emerging field of behavioral finance. He co-created the most widely quoted home price index in the country (the S&P/Case-Shiller Index). He also helped launch an active market in house-price futures and options on the Chicago Mercantile Exchange. He cofounded MacroMarkets LLC, which uses the Case-Shiller methodology to develop innovative financial instruments to facilitate investment and risk management. He contributes regularly to the Economic View column of The New York Times and to Project Syndicate. Dr. Shiller is the Sterling Professor of Economics, Yale University, and Professor of Finance and fellow at the International Center for Finance, Yale School of Management. He has strong connections to the securities industry. Robert Shiller is a strong presenter for audiences looking for inspiration and innovation in financial markets and financial services, and to understand the impact of financial crises on the social fabric.

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