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001    sky287295275 
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008    170421s2017    njuach        001 0 eng d 
020    9780691135144 
020    0691135142 
040    EZS|erda|cEZS|dEZS|dSKYRV|dUtOrBLW 
041 0  eng 
092    332|bLO 
100 1  Lo, Andrew W.|q(Andrew Wen-Chuan),|eauthor. 
245 10 Adaptive markets :|bfinancial evolution at the speed of 
       thought /|cAndrew W.Lo. 
264  1 Princeton, New Jersey :|bPrinceton University Press,
       |c2017. 
264  4 |c©2017 
300    x, 483 pages:|billustrations, facsimiles (some color), 
       charts (some color);|c25 cm 
336    text|2rdacontent 
337    unmediated|2rdamedia 
338    volume|2rdacarrier 
504    Includes bibliographic references (pages [439]-462) and 
       index. 
520 3  "Half of all Americans have money in the stock market, yet
       economists can't agree on whether investors and markets 
       are ration 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." -- From inside flap. 
650  0 Finance. 
650  0 Stock exchanges. 
650  0 Economics.