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. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hangs on the answer. 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 is 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. An ambitious new answer to fundamental questions about economics and investing, Adaptive Markets is essential reading for anyone who wants to understand how markets really work.
Автор: Cookson Gillian Название: Age of Machinery ISBN: 1783272767 ISBN-13(EAN): 9781783272761 Издательство: Wiley Рейтинг: Цена: 3958.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: An engagingly written account of textile engineering in its key northern centres, rich with historical narrative and analysis.
Описание: Revealing bold new ways to structure markets for the good of everyone, this book shows how the emancipatory force of genuinely open, free, and competitive markets can reawaken the dormant 19th-century spirit of liberal reform and lead to greater equality, prosperity, and cooperation.
Описание: Few events in the history of humanity rival the Industrial Revolution. This title offers an account of how dramatic changes in institutions - the formal and informal rules that govern a society - resulted from the unprecedented economic development that took place during the Industrial Revolution.
Описание: American markets, once a model for the world, are giving up on competition. Thomas Philippon blames the unchecked efforts of corporate lobbyists. Instead of earning profits by investing and innovating, powerful firms use political pressure to secure their advantages. The result is less efficient markets, leading to higher prices and lower wages.
Описание: This book presents practical Risk Management and Trading applications for the Electricity Markets. Various methodologies developed over the last few years are considered and current literature is reviewed. The book emphasizes the relationship between trading, hedging and generation asset management.
Автор: Dietrich, Simone Название: States, Markets, And Foreign Aid ISBN: 1009001752 ISBN-13(EAN): 9781009001755 Издательство: Cambridge Academ Рейтинг: Цена: 4909.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Weaving together scholarship in political economy, public administration and historical institutionalism, Dietrich explains the variation in how donor governments deliver foreign aid projects under similar circumstances. The bureaucratic institutions of donor countries inform how donors see and set their objectives for international development.
Автор: George A Philips Название: Convertible Bond Markets ISBN: 1349143871 ISBN-13(EAN): 9781349143870 Издательство: Springer Рейтинг: Цена: 24456.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: The convertible bond market has recently gained increasing significance on a global basis with particularly notable growth among very fast growing companies hungry for capital.
Автор: James Peoples Название: Regulatory Reform and Labor Markets ISBN: 0792380657 ISBN-13(EAN): 9780792380658 Издательство: Springer Рейтинг: Цена: 30606.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Debates the notion that research on regulatory reform and labor markets should develop within the framework of the competitive model. This book achieves this by presenting diverging views on wage and employment determination in distinctly different deregulated industries.
Автор: H. Khan Название: Global Markets and Financial Crises in Asia ISBN: 033376076X ISBN-13(EAN): 9780333760765 Издательство: Springer Рейтинг: Цена: 18866.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Haider A. Khan presents a theory of financial crises in the age of globalization from an evolutionary perspective and suggests policies that may be necessary for averting or managing new financial crises.
Автор: L. Dienes; I. Dobozi; M. Radetzki Название: Energy and Economic Reform in the Former Soviet Union ISBN: 0333606345 ISBN-13(EAN): 9780333606346 Издательство: Springer Рейтинг: Цена: 23757.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Providing an account of what may happen to the energy sector in the former Soviet Union in the future under alternative scenarios for macroeconomic reform, this book analyzes the economic and political factors that are involved, and also assesses the potential for energy saving.
Автор: John Eatwell; Murray Milgate; Peter Newman Название: Allocation, Information and Markets ISBN: 033349539X ISBN-13(EAN): 9780333495391 Издательство: Springer Рейтинг: Цена: 4191.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This volume concentrates on the topic of allocation information and markets.
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