Описание: This 2002 book expands our understanding of the distinctive policy analysis produced between 1919 and 1950 by economists and other social scientists for four major international organizations: The League of Nations, the International Labor Organization, the Bank for International Settlements, and the United Nations.
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--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 market 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.
A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications--including how hedge funds have become the Gal pagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.
An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.
-- "Foreign Affairs"
Автор: Lamb Название: Property Markets and the State in Adam Smith`s System ISBN: 1138230596 ISBN-13(EAN): 9781138230590 Издательство: Taylor&Francis Рейтинг: Цена: 27562.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book, first published in 1987, is an attempt to explain Adam Smith`s theory of property. The author examines Smith`s theory in the context of The Wealth of Nations, and explores what Smith said, what he really meant, and what can be logically deduced from it. This title will be of interest to students of economic thought.
Автор: B. Reynaud Название: Operating Rules in Organizations ISBN: 1349413283 ISBN-13(EAN): 9781349413287 Издательство: Springer Рейтинг: Цена: 11179.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: When economists claim that rules are coordinating devices, they do not explain how those rules operate in the reality of organizational life. It focuses on two kinds of rules - macroeconomic and microeconomic - through detailed case studies of wage indexation and labour productivity.
Автор: S. Sethi Название: Group Purchasing Organizations ISBN: 1349374377 ISBN-13(EAN): 9781349374373 Издательство: Springer Рейтинг: Цена: 9781.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Group Purchasing Organizations (GPOs) are a massive subset of the healthcare industry that negotiate lower costs for healthcare supplies by buying for several hospitals at once. Group Purchasing Organizations provides an analysis and critique of this industry.
Автор: Robert P. Gilles; Pieter H.M. Ruys Название: Imperfections and Behavior in Economic Organizations ISBN: 9401045992 ISBN-13(EAN): 9789401045995 Издательство: Springer Рейтинг: Цена: 20962.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Imperfections and Behavior in Economic Organizations analyzes the organization of economic decision making in a contemporary setting.
Автор: Pierpaolo Battigalli; Aldo M. Montesano; Fausto Pa Название: Decisions, Games and Markets ISBN: 1461379105 ISBN-13(EAN): 9781461379102 Издательство: Springer Рейтинг: Цена: 20962.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Decisions, Games and Markets is designed to stimulate new developments in decision theory, game theory and general equilibrium theory, as well as in their applications to economics. The book is divided into three parts - Decision Theory, Game Theory, and the Theory of Markets.
Описание: Drawing on behavioural, experimental and neoclassical economics, this volume brings together eminent academics and practitioners to provide working macroeconomic models and explore the social norms governing a post-crisis financial world.
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