Böcker av Harold L. Vogel

Economists broadly define financial asset price bubbles as episodes in which prices rise with notable rapidity and depart from historically established asset valuation multiples and relationships.

As such, it provides a concise, up-to-date reference guide for financial analysts, economists, industry executives, legislators and regulators, and journalists interested in the economics, financing and marketing of travel and tourism related goods and services.

This path-breaking book on the travel industry covers airlines, cruises, hotels, casinos, theme parks and tourism.

Despite the thousands of articles and the millions of times that the word 'bubble' has been used in the business press, there still does not appear to be a cohesive theory or persuasive empirical approach with which to study 'bubble' and 'crash' conditions. This book presents a plausible and accessible descriptive theory and empirical approach to the analysis of such financial market conditions. It advances such a framework through application of standard econometric methods to its central idea, which is that financial bubbles reflect urgent short side rationed demand. From this basic idea, an elasticity of variance concept is developed. It is further shown that a behavioral risk premium can probably be measured and related to the standard equity risk premium models in a way that is consistent with conventional theory.

The entertainment and media industries, already important sectors of the US economy, continue to grow rapidly in other countries around the world. This ninth edition of Entertainment Industry Economics continues to be the definitive source on the economics of film, music, television, advertising, broadcasting, cable, casino and online wagering, publishing, performing arts and culture, toys and games, sports, and theme parks. It synthesizes a vast amount of data to provide a clear, comprehensive, and up-to-date reference guide on the economics, financing, accounting, production, and marketing of entertainment in the United States and overseas. Completely updated, it includes new sections on price effects, art markets, and Asian gaming. Financial analysts and investors, economists, industry executives, accountants, lawyers, regulators and legislators, and journalists, as well as students preparing to join these professionals, will benefit from this invaluable guide on how the entertainment and media industries operate.

Economists broadly define financial asset price bubbles as episodes in which prices rise with notable rapidity and depart from historically established asset valuation multiples and relationships.