| Description |
1 online resource (1 audio file (20hr., 24 min.)) : digital. |
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digital digital recording rda |
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data file rda |
| Access |
Digital content provided by hoopla. |
| Performer |
Read by Jonathan Yen. |
| 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 W. 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 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. |
| System Details |
Mode of access: World Wide Web. |
| Subject |
Investments -- Psychological aspects.
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Investments -- Decision making.
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Finance -- Psychological aspects.
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Finance -- Decision making.
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Securities.
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Stock exchanges.
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| Added Author |
Yen, Jonathan, narrator.
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hoopla digital.
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| ISBN |
9781541495296 (sound recording : hoopla Audio Book) |
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1541495292 (sound recording : hoopla Audio Book) |
| Music No. |
MWT12032649 |
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