Adaptive Markets: Financial Evolution at the Speed of Thought by Andrew W. Lo
- Adaptive Markets: Financial Evolution at the Speed of Thought
- Andrew W. Lo
- Page: 504
- Format: pdf, ePub, mobi, fb2
- ISBN: 9780691191362
- Publisher: Princeton University Press
Books free download in english Adaptive Markets: Financial Evolution at the Speed of Thought
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. 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 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.
Adaptive Markets: Financial Evolution at the Speed of Thought
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
Adaptive Markets: Financial Evolution at the Speed of Thought (a
In Adaptive Markets: Financial Evolution at the Speed of Thought, Andrew W. Lo challenges practitioners directly in his meatiest chapter, “Adaptive Markets in
Adaptive Markets - CFA Institute Publications
In Adaptive Markets: Financial Evolution at the Speed of Thought, Andrew W. Lo challenges practitioners directly in his meatiest chapter, “Adaptive Markets in
Adaptive markets : financial evolution at the speed of thought (Book
Get this from a library! Adaptive markets : financial evolution at the speed of thought. [Andrew W Lo] -- "Half of all Americans have money in the stock market, yet
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Andrew W. Lo: Adaptive markets: financial evolution at the speed of
Mathis Mörke, 2018. "Andrew W. Lo: Adaptive markets: financial evolution at the speed of thought," Financial Markets and Portfolio Management, Springer;Swiss
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