The New Finance: Overreaction, Complexity and Uniqueness

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9780131327894: The New Finance: Overreaction, Complexity and Uniqueness

A supplement for junior/senior and graduate level courses in Investments, Behavioral Finance Theory, and related courses.

This brief text makes the case for the inefficient market and the complexity and chaos on asset pricing, positioning the efficient market paradigm at the extreme end of a spectrum of possible states. It presents a comprehensive and organized collection of the evidence contradicting market efficiency.

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About the Author:

In this Third Edition, Robert Haugen focuses on the evidence, causes, and history of overreactive pricing in the stock market. He argues that, unlike the other social sciences, economic models aggregate from the assumed behaviors of individuals to predictions about market pricing. These models fail to capture the complexity of human interaction. In addition, Haugen argues that each interaction is entirely unique. The complexity and the uniqueness of interactions make it impossible to generalize from the preferences of individuals to meaningful conclusions about the structure and behavior of market prices. The logical conclusion: Both rational and behavioral economics should be reconsidered.

Bob Haugen is Professor Emeritus at the University of California, Irvine. He serves as Managing Partner to Haugen Custom Financial Systems, which licenses portfolio management software to pension funds, endowments, and institutional and high-net-worth money managers.

For further study on the author's unique approach to stock market analysis, read the entire Bob Hougen series, The Inefficient Stock Market, What Pays Off and Why, and Beast on Wall Street.

Visit www.prenhall.com/haugen for additional resources. Or go to www.newfinance.com.

"About this title" may belong to another edition of this title.

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Haugen, Robert A.
Published by PIE (PS) (2004)
ISBN 10: 0131327895 ISBN 13: 9780131327894
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Book Description PIE (PS), 2004. Book Condition: Brand New. International Edition. Softcover. This is a Brand New Textbook Wrapped MINT in the plastic. Ship from Multiple Locations, including Malaysia, Singapore, and Thailand. Shipping should take from 3-4 business days within US, Canada, UK, and other EU countries, 2-3 business days within Australia, Japan, and Singapore; for faster processing time, please choose to ship with Expedite. Thank you for looking![7894PS The New Finance]. Bookseller Inventory # 013132789400596

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2.

Haugen, Robert A.
Published by PIE (PS) (2004)
ISBN 10: 0131327895 ISBN 13: 9780131327894
New Softcover Quantity Available: 1
International Edition
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Book Description PIE (PS), 2004. Book Condition: Brand New. International Edition. Softcover. This is a Brand New Textbook Wrapped MINT in the plastic. Ship from Multiple Locations, including Malaysia, Singapore, and Thailand. Shipping should take from 3-4 business days within US, Canada, UK, and other EU countries, 2-3 business days within Australia, Japan, and Singapore; for faster processing time, please choose to ship with Expedite. Thank you for looking![7894PS The New Finance]. Bookseller Inventory # 013132789400596

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