TY - BOOK ID - 65544162 TI - Adaptive Markets AU - Lo, Andrew W., AU - Lo, Andrew W PY - 2019 SN - 069119680X 9780691196800 0691191360 9780691191362 PB - Princeton, NJ DB - UniCat KW - Investments KW - Stock exchanges. KW - Efficient market theory. KW - Psychological aspects. KW - Market theory, Efficient KW - Capital market KW - Stock exchanges KW - Bulls and bears KW - Commercial corners KW - Corners, Commercial KW - Equity markets KW - Exchanges, Securities KW - Exchanges, Stock KW - Securities exchanges KW - Stock-exchange KW - Stock markets KW - Efficient market theory KW - Speculation KW - Adaptive market hypothesis. KW - Arbitrage. KW - Asset. KW - Bank run. KW - Bank. KW - Behavior. KW - Behavioral economics. KW - Biology. KW - Broker-dealer. KW - Calculation. KW - Career. KW - Central bank. KW - Competition. KW - Cryptocurrency. KW - Currency. KW - Customer. KW - Debt. KW - Decision-making. KW - Economics. KW - Economist. KW - Ecosystem. KW - Efficient-market hypothesis. KW - Employment. KW - Entrepreneurship. KW - Equity Market. KW - Evolution. KW - Finance. KW - Financial crisis of 2007–08. KW - Financial crisis. KW - Financial economics. KW - Financial innovation. KW - Financial institution. KW - Financial services. KW - Financial technology. KW - Forecasting. KW - Fraud. KW - Funding. KW - Hedge Fund Manager. KW - Hedge fund. KW - Heuristic. KW - Homo economicus. KW - Human behavior. KW - Incentive. KW - Income. KW - Insider. KW - Insurance. KW - Interest rate. KW - Investment strategy. KW - Investment. KW - Investor. KW - Leverage (finance). KW - Macroeconomics. KW - Margin (finance). KW - Market (economics). KW - Market Dynamics. KW - Market liquidity. KW - Market maker. KW - Market price. KW - Market trend. KW - Myron Scholes. KW - Narrative. KW - Paul Samuelson. KW - Ponzi scheme. KW - Portfolio manager. KW - Prediction. KW - Prefrontal cortex. KW - Probability matching. KW - Probability. KW - Psychology. KW - Random walk hypothesis. KW - Rational expectations. KW - Rationality. KW - Result. KW - Risk aversion. KW - Risk management. KW - S&P 500 Index. KW - Salary. KW - Saving. KW - Scientist. KW - Share price. KW - Sociobiology. KW - Speculation. KW - Stock market crash. KW - Stock market. KW - Supply (economics). KW - Systemic risk. KW - Technology. KW - The Wisdom of Crowds. KW - Theory. KW - Thought experiment. KW - Thought. KW - Time series. KW - Trade-off. KW - Trader (finance). KW - Trading strategy. KW - Uncertainty. KW - Venture capital. KW - Warren Buffett. KW - Wealth. KW - Year. UR - https://www.unicat.be/uniCat?func=search&query=sysid:65544162 AB - "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." -- Publisher's description. ER -