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"Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are ration and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe - and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics, and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, "Adaptive Markets" shows that the theory of marked efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought - a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation."--Inside flap.
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Subjects
Economics, Finance, Stock exchanges, Investments, SecuritiesShowing 5 featured editions. View all 5 editions?
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1
Adaptive Markets: Financial Evolution at the Speed of Thought
May 14, 2019, Princeton University Press
paperback
0691191360 9780691191362
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2
Adaptive Markets: Financial Evolution at the Speed of Thought
2019, Princeton University Press
in English
069119680X 9780691196800
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3
Adaptive Markets: Financial Evolution at the Speed of Thought
Jan 18, 2018, Tantor Audio
audio cd
1541465296 9781541465299
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4
Adaptive markets: financial evolution at the speed of thought
2017
in English
0691135142 9780691135144
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5
Adaptive Markets: Financial Evolution at the Speed of Thought
2017, Princeton University Press
in English
1400887763 9781400887767
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Book Details
Table of Contents
Edition Notes
Includes bibliographical references and index.
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Feedback?August 13, 2020 | Edited by ImportBot | import existing book |
July 19, 2019 | Created by MARC Bot | import new book |