Adaptive markets : financial evolution at the speed of thought / Andrew W. Lo.

"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. Th...

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Bibliographic Details
Main Author: Lo, Andrew W. (Andrew Wen-Chuan) (Author)
Language:English
Published: Princeton, New Jersey : Princeton University Press, [2017]
Subjects:
Physical Description:x, 483 pages, 8 unnumbered pages of plates : illustrations (some color), charts (some color) ; 25 cm
Format: Book

MARC

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245 1 0 |a Adaptive markets :  |b financial evolution at the speed of thought /  |c Andrew W. Lo. 
264 1 |a Princeton, New Jersey :  |b Princeton University Press,  |c [2017] 
264 4 |c ©2017 
300 |a x, 483 pages, 8 unnumbered pages of plates :  |b illustrations (some color), charts (some color) ;  |c 25 cm 
336 |a text  |b txt  |2 rdacontent 
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504 |a Includes bibliographical references (pages 421-462) and index. 
505 0 |a Are we all 'homo economicus' now? -- If you're so smart, why aren't you rich? -- If you're so rich, why aren't you smart? -- The power of narrative -- The evolution revolution -- The adaptive markets hypothesis -- The Galapagos Islands of finance -- Adaptive markets in action -- Fear, greed, and financial crisis -- Finance behaving badly -- Fixing finance -- To boldly go where no financier has gone before. 
520 3 |a "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. 
650 0 |a Investments  |x Psychological aspects.  |0 http://id.loc.gov/authorities/subjects/sh2008104905 
650 0 |a Investments  |x Decision making.  |0 http://id.loc.gov/authorities/subjects/sh2008124098 
650 0 |a Finance  |x Psychological aspects.  |0 http://id.loc.gov/authorities/subjects/sh85048256 
650 0 |a Finance  |x Decision making.  |0 http://id.loc.gov/authorities/subjects/sh85048256 
650 0 |a Stock exchanges.  |0 http://id.loc.gov/authorities/subjects/sh85128191 
650 7 |a Economics.  |2 fast  |0 (OCoLC)fst00902116 
650 7 |a Finance.  |2 fast  |0 (OCoLC)fst00924349 
650 7 |a Stock exchanges.  |2 fast  |0 (OCoLC)fst01133564 
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