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008			161208s2019 njua b 001 0 eng d
010			_a 2016961979
015			_aGBB940990 _2bnb
016	7		_a019280488 _2Uk
020			_a9780691191362 (paperback)
020			_a0691191360 (paperback)
035			_a(OCoLC)on1051136423
040			_aYDX _beng _cYDX _erda _dBDX _dOCLCQ _dDLC
041			_aeng
042			_alccopycat
050	1	4	_aHG 4637 _bL795a 2019
082	0	0	_a332
100	1		_aLo, Andrew W. _q(Andrew Wen-Chuan), _922182 _d1960-
245	1	0	_aAdaptive markets : _bfinancial evolution at the speed of thought / _cAndrew W. Lo.
250			_aFirst paperback edition.
264		1	_aPrinceton, New Jersey: _bPrinceton University Press, _c[2019]
264		4	_c©2019
300			_ax, 489 pages, 8 pages of unnumbered plates : _billustrations (some color) ; _c24 cm
336			_atext _btxt _2rdacontent
337			_aunmediated _bn _2rdamedia
338			_avolume _bnc _2rdacarrier
504			_aIncludes bibliographical references (pages 445-468) and index.
520			_aAbstract: "Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are ration 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. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, "Adaptive Markets" shows that the theory of marked efficiency isn't wrong but merely 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."--Inside flap.
650		0	_aFinance.
650		0	_aStock exchanges.
650		0	_aEfficient market theory.
650		7	_aEfficient market theory. _2fast _0(OCoLC)fst00903773
650		7	_aFinance. _2fast _0(OCoLC)fst00924349
650		7	_aStock exchanges. _2fast _0(OCoLC)fst01133564
906			_a7 _bcbc _ccopycat _d2 _encip _f20 _gy-gencatlg
942			_2lcc _cBK