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: Susan Strange Название: States and Markets ISBN: 1474236928 ISBN-13(EAN): 9781474236928 Издательство: Bloomsbury Academic Рейтинг: Цена: 4117.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание:
' States and Markets] should be read by every student of international political economy.' - International Relations Theory.
Susan Strange was one of the most influential international relations scholars of the latter half of the twentieth century. She is regarded by many as the creator of the discipline of international political economy (IPE) and leaves behind an impressive body of work. States and Markets is one of Strange's seminal texts. Strange Introduces the reader to a unique critical model for understanding the relationship between politics and economics centred on her four-faceted model of power consisting of: security, production, finance and knowledge. Using these terms Strange provides a rigorous analysis of the effects of political authority, including states, on markets and conversely of market forces on states. The Revelations edition includes a new foreword by Ronen Palan.
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.
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: Irwin Douglas a. Название: Clashing Over Commerce: A History of Us Trade Policy ISBN: 022667844X ISBN-13(EAN): 9780226678443 Издательство: Wiley Рейтинг: Цена: 3802.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in The Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin's Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation--first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. As the Trump administration considers making major changes to US trade policy, Irwin's sweeping historical perspective helps illuminate the current debate. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present.
Автор: Hirshleifer Название: Price Theory and Applications ISBN: 0521523427 ISBN-13(EAN): 9780521523424 Издательство: Cambridge Academ Рейтинг: Цена: 9502.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This new seventh edition of the book offers extensive discussion of information, uncertainty, and game theory. It contains over a hundred examples illustrating the applicability of economic analysis not only to mainline economic topics but also issues in politics, history, biology, the family, and many other areas.
Автор: Hough Название: The Long Process of Development ISBN: 1107063698 ISBN-13(EAN): 9781107063693 Издательство: Cambridge Academ Рейтинг: Цена: 13622.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This groundbreaking book examines England and Spain`s history from 1000 to 1800 and the legacy of these countries in the United States and Mexico to explain why development takes centuries. It emphasizes the need for an effective state and is an indispensable supplement to books that focus on representative institutions.
Описание: This open access book provides new conceptualisations on the networks of migrants and their descendants in accessing the labour market.
Автор: Casson M. , Ed. Название: Markets and Market Institutions: Their Origin and Evolution ISBN: 1849803897 ISBN-13(EAN): 9781849803892 Издательство: Edward Elgar Publishers Рейтинг: Цена: 71174.00 р. Наличие на складе: Поставка под заказ.
Описание: The origin of markets is a central issue in economics and economic history, but until now there has been no definitive reference source on the subject. They show that markets did not evolve in a purely spontaneous fashion, but as part of the planned development of market centres by local landowners and business people.
Автор: Holt, Charles A., Название: Markets, games, and strategic behavior : ISBN: 0691179247 ISBN-13(EAN): 9780691179247 Издательство: Wiley Рейтинг: Цена: 13939.00 р. Наличие на складе: Поставка под заказ.
Описание:
From a pioneer in experimental economics, an expanded and updated edition of a textbook that brings economic experiments into the classroom
Economics is rapidly becoming a more experimental science, and the best way to convey insights from this research is to engage students in classroom simulations that motivate subsequent discussions and reading. In this expanded and updated second edition of Markets, Games, and Strategic Behavior, Charles Holt, one of the leaders in experimental economics, provides an unparalleled introduction to the study of economic behavior, organized around risky decisions, games of strategy, and economic markets that can be simulated in class. Each chapter is based on a key experiment, presented with accessible examples and just enough theory.
Featuring innovative applications from the lab and the field, the book introduces new research on a wide range of topics. Core chapters provide an introduction to the experimental analysis of markets and strategic decisions made in the shadow of risk or conflict. Instructors can then pick and choose among topics focused on bargaining, game theory, social preferences, industrial organization, public choice and voting, asset market bubbles, and auctions.
Based on decades of teaching experience, this is the perfect book for any undergraduate course in experimental economics or behavioral game theory.
New material on topics such as matching, belief elicitation, repeated games, prospect theory, probabilistic choice, macro experiments, and statistical analysis
Participatory experiments that connect behavioral theory and laboratory research
Largely self-contained chapters that can each be covered in a single class
Guidance for instructors on setting up classroom experiments, with either hand-run procedures or free online software
End-of-chapter problems, including some conceptual-design questions, with hints or partial solutions provided
Автор: Bouchaud, Jean-philippe Bonart, Julius (university Название: Trades, quotes and prices ISBN: 110715605X ISBN-13(EAN): 9781107156050 Издательство: Cambridge Academ Рейтинг: Цена: 11563.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: For decades, discussions of financial markets have primarily centred on prices. In this book for practitioners, researchers and advanced students, the authors present an alternative approach - the microstructure approach - by considering the micro-scale actions of individual traders, and addressing many long-standing questions regarding market fairness, stability, and optimal trading.
Название: Markets in their place ISBN: 0367273403 ISBN-13(EAN): 9780367273408 Издательство: Taylor&Francis Рейтинг: Цена: 19906.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book approaches markets from the ground up, and from a part of the world often still regarded as peripheral to global capitalism: the South Pacific and will be of particular interest to scholars and students working in and between economic geography, cultural economy, political economy, economic sociology, and more.
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