01144nam a2200169Ia 4500 20250117103818.0 250117s9999 xx 000 0 und d 9780691135144 332.64LO Lo, Andrew W. Adaptive markets financial evolution at the speed of thought Princeton, NJ Princeton University Press 2017 x, 483 p.: ill. ; 25 cm includes Bibliographic reference and Index 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 Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist. Finance; Stock exchanges; Economics 6324 6324 0 0 0 0 U002 U002 Economics 2025-01-17 0 332.64LO 006014 2025-01-31 00:00:00 2025-01-17 BK