Download Book Adaptive Markets: Financial Evolution at the Speed of Thought Writen By Andrew W. Lo

Adaptive Markets: Financial Evolution at the Speed of Thought

By : Andrew W. Lo

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Book Synopsis :

A new, evolutionary explanation of markets and investor behaviorHalf 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. The debate is one of the biggest in economics, and the value or futility of investment management and financial regulation hangs on the answer. In this groundbreaking book, Andrew Lo transforms the debate with a powerful new framework in which rationality and irrationality coexist--the Adaptive Markets Hypothesis. 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

Book Detail :

Author : Andrew W. Lo

Pages : 504 pages

Publisher : Princeton University Press

Language :

ISBN-10 : 0691191360

ISBN-13 : 9780691191362

 

Supporting format: PDF, EPUB, Kindle, Audio, MOBI, HTML, RTF, TXT, etc.

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