國立高雄大學圖資館 |

Language: English

Back

Adaptive marketsfinancial evolution at the speed of thought /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Adaptive marketsAndrew W. Lo ; with a new afterword by the author.
Reminder of title:	financial evolution at the speed of thought /
Author:	Lo, Andrew W.
Published:	Princeton, NJ :Princeton University Press,2019, c2017.
Description:	1 online resource (504 p.) :ill.
Subject:	Efficient market theory.
Online resource:	https://www.degruyter.com/isbn/9780691196800
ISBN:	9780691196800$q(ebook)

Adaptive marketsfinancial evolution at the speed of thought /
Lo, Andrew W.

Adaptive marketsfinancial evolution at the speed of thought /[electronic resource] :Andrew W. Lo ; with a new afterword by the author. - 1st pbk. ed. - Princeton, NJ :Princeton University Press,2019, c2017. - 1 online resource (504 p.) :ill.

Includes bibliographical references and index.

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 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.

ISBN: 9780691196800$q(ebook)

Standard No.: 10.1515/9780691196800doiSubjects--Topical Terms:

198155
Efficient market theory.

LC Class. No.: HG4637 / .L6 2019

Dewey Class. No.: 332

Adaptive marketsfinancial evolution at the speed of thought /
LDR:02227cmm a2200277 a 4500 001 650120
003 DE-B1597
005 20220629043637.0
006 m o d
007 cr cnu---unuuu
008 240227t20192017njua ob 001 0 eng d
020 $a 9780691196800$q(ebook)
020 $z 9780691191362$q(pbk.)
024 7 $a 10.1515/9780691196800 $2 doi
035 $a 9780691196800
040 $a DE-B1597 $b eng $c DE-B1597
041 0 $a eng
050 4 $a HG4637 $b .L6 2019
082 0 4 $a 332 $2 23
100 1 $a Lo, Andrew W. $q (Andrew Wen-Chuan) $3 435045
245 1 0 $a Adaptive markets $h [electronic resource] : $b financial evolution at the speed of thought / $c Andrew W. Lo ; with a new afterword by the author.
250 $a 1st pbk. ed.
260 $a Princeton, NJ : $b Princeton University Press, $c 2019, c2017.
300 $a 1 online resource (504 p.) : $b ill.
504 $a Includes bibliographical references and index.
520 $a 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 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.
588 $a Description based on print version record.
650 0 $a Efficient market theory. $3 198155
650 0 $a Investments-Psychological aspects. $3 959944
650 0 $a Stock exchanges. $3 185899
856 4 0 $u https://www.degruyter.com/isbn/9780691196800