"Irrational Exuberance" is a term popularized by economist Robert Shiller to describe the phenomenon where asset prices rise beyond their intrinsic value, driven by investor enthusiasm rather than fundamentals. This behavior often leads to market bubbles, where the expectation of future gains fuels excessive buying, creating unsustainable price increases. The concept highlights the psychological factors influencing financial markets, suggesting that emotions can lead to poor decision-making. Irrational Exuberance can result in significant market corrections when reality sets in, causing prices to plummet as investors rush to sell, often leading to economic instability.