Lo, Andrew W.
Adaptive Markets: Financial Evolution at the Speed of Thought
- ISBN 13:
- 9780691191362
- author:
- Lo, Andrew W.
- format:
- Paperback / softback
- publisher:
- Princeton University Press
- language:
- English
- Publication Year:
- 2019
- Pages:
- 504
- Dimensions:
- 23.5 x 15.6 centimetres (0.78 kg
- Genre:
- Business,Economics, General,
- Condition:
- New
- Availability:
- Item usually sent within 10 working days
Description
Andrew Lo presents a new framework for understanding the markets, one that cuts through the debate between rationality and irrationality. The Adaptive Markets Hypothesis offers a fresh perspective on the nature of markets and investor behavior.
Lo draws on psychology, evolutionary biology, neuroscience, and artificial intelligence to explain how financial evolution shapes behavior and markets. He shows how the theory of marked efficiency is not wrong, but rather incomplete, and how markets can be unstable, leading to inefficiencies and opportunities for investors.
This book provides a new understanding of the markets and their evolution, revealing how they can be shaped by the speed of thought and the interactions between stability and crisis, profit and loss, and innovation and regulation.
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