Adaptive Markets: Financial Evolution at the Speed of Thought (Lo Andrew W.)(Paperback)

Adaptive Markets: Financial Evolution at the Speed of Thought (Lo Andrew W.)(Paperback)

Adaptive Markets: Financial Evolution at the Speed of Thought (Lo Andrew W.)(Paperback)

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Adaptive Markets: Financial Evolution at the Speed of Thought (Lo Andrew W.)(Paperback) - popis produktu

A new, evolutionary explanation of markets and investor behavior

Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe. The debate is one of the biggest in economics, and the value or futility of investment management and financial regulation hangs on the answer. In this groundbreaking book, Andrew Lo transforms the debate with a powerful new framework in which rationality and irrationality coexist--the Adaptive Markets Hypothesis. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency is incomplete. When markets are unstable, investors react instinctively, creating

Adaptive Markets: Financial Evolution at the Speed of Thought (Lo Andrew W.)(Paperback) - historie ceny a dostupnosti

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