financial evolution at the speed of thought Lo, Andrew W. creator text xx Princeton, NJ Princeton University Press 2017 9999 monographic und

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x, 483 p.: ill. ; 25 cm 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. includes Bibliographic reference and Index Finance; Stock exchanges; Economics 332.64LO 9780691135144 250117 20250117103818.0