Adaptive markets : financial evolution at the speed of thought /

Adaptive markets : financial evolution at the speed of thought /

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Bibliographic Details
Author / Creator:	Lo, Andrew W. (Andrew Wen-Chuan), author.
Imprint:	Princeton, New Jersey : Princeton University Press, [2017] ©2017
Description:	x, 483 pages : illustrations (some color) ; 25 cm
Language:	English
Subject:	Investments. Stock exchanges. Finance -- Psychological aspects. Finance -- Decision making. Finance -- Psychological aspects. Investment analysis. Investments -- Decision making. Investments -- Psychological aspects. Stock exchanges. Stock price forecasting.
Format:	Print Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/11044273

Hidden Bibliographic Details
ISBN:	9780691135144 0691135142
Notes:	Includes bibliographical references (pages 439-462) and index.
Summary:	"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 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.

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Call Number:	HG4521 .L793 2017
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