01117nam a2200157Ia 450000500170000000800410001702000180005808200130007610000180008924500660010726000520017330000280022550000470025352006190030065000400091920250117103818.0250117s9999    xx            000 0 und d  a9780691135144  a332.64LO  aLo, Andrew W. 0aAdaptive marketsbfinancial evolution at the speed of thought  aPrinceton, NJbPrinceton University Pressc2017  ax, 483 p.: ill. ; 25 cm  aincludes Bibliographic reference and Index  aHalf 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 Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.  aFinance; Stock exchanges; Economics