|Overview: Irrational Exuberance|
|Definition||An asset price bubble driven by optimism.|
|Related Concepts||SpeculationZero-sum GameEquilibrium|
What is Irrational Exuberance?
John Spacey, updated on April 27, 2018
Irrational exuberance is a phrase famously used by Alan Greenspan, the chairman of the US Federal Reserve, in 1996 to describe the market bubble that coincided with the excitement around the commercialization of the internet in the late 1990s. The term is still used today to describe asset price bubbles driven by optimism.
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