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Inefficient Markets: An Introduction to Behavioral Finance (Clarendon Lectures in Economics) - Softcover
Synopsis
The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. This book describes an alternative approach to the study of financial markets: behavioral finance. This approach starts with an observation that the assumptions of investor rationality and perfect arbitrage are overwhelmingly contradicted by both psychological and institutional evidence. In actual financial markets, less than fully rational investors trade against arbitrageurs whose resources are limited by risk aversion, short horizons, and agency problems. The book presents models of such markets. These models explain the available financial data more accurately than the efficient markets hypothesis, and generate new predictions about security prices.
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About the Author
Andrei Shleifer is professor of Economics at Harvard University.
"About this title" may belong to another edition of this title.
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Inefficient Markets: An Introduction to Behavioral Finance (Clarendon Lectures in Economics)
Published by
Oxford University Press, U.S.A., 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
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Paperback. Condition: Used; Very Good. Dispatched, from the UK, within 48 hours of ordering. Though second-hand, the book is still in very good shape. Minimal signs of usage may include very minor creasing on the cover or on the spine. Inscription on the first page, typically just a name but may include a dedication or a brief personal message. Seller Inventory # CHL10477126
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Inefficient Markets: An Introduction to Behavioral Finance (Clarendon Lectures in Economics)
Published by
Oxford University Press, U.S.A., 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
Used
Softcover
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Condition: Good. Most items will be dispatched the same or the next working day. A copy that has been read but remains in clean condition. All of the pages are intact and the cover is intact and the spine may show signs of wear. The book may have minor markings which are not specifically mentioned. Seller Inventory # rev2161937068
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Inefficient Markets: An Introduction to Behavioral Finance (Clarendon Lectures in Economics)
Published by
Oxford University Press, 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
Used
Paperback
Seller: Greener Books, London, United Kingdom
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Paperback. Condition: Used; Good. **SHIPPED FROM UK** We believe you will be completely satisfied with our quick and reliable service. All orders are dispatched as swiftly as possible! Buy with confidence! Greener Books. Seller Inventory # mon0000819842
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Inefficient Markets: An Introduction to Behavioral Finance (Clarendon Lectures in Economics)
Published by
Oxford University Press, 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
Used
Paperback
Seller: Greener Books, London, United Kingdom
Seller rating 5 out of 5 stars
Paperback. Condition: Used; Very Good. **SHIPPED FROM UK** We believe you will be completely satisfied with our quick and reliable service. All orders are dispatched as swiftly as possible! Buy with confidence! Greener Books. Seller Inventory # 2944912
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Inefficient Markets : An Introduction to Behavioral Finance
Published by
Oxford University Press, Incorporated, 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
Used
Softcover
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Condition: Good. Ships from the UK. Former library book; may include library markings. Used book that is in clean, average condition without any missing pages. Seller Inventory # 5359441-6
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Inefficient Markets: An Introduction to Behavioral Finance (Clarendon Lectures in Economics)
Published by
Oxford University Press, 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
Used
Paperback
Seller: WorldofBooks, Goring-By-Sea, WS, United Kingdom
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Paperback. Condition: Good. The book has been read but remains in clean condition. All pages are intact and the cover is intact. Some minor wear to the spine. Seller Inventory # GOR003526895
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Inefficient Markets: An Introduction to Behavioral Finance (Clarendon Lectures in Economics)
Published by
Oxford University Press, 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
Used
Paperback
Seller: WorldofBooks, Goring-By-Sea, WS, United Kingdom
Seller rating 5 out of 5 stars
Paperback. Condition: Fair. A readable copy of the book which may include some defects such as highlighting and notes. Cover and pages may be creased and show discolouration. Seller Inventory # GOR008403718
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Inefficient Markets: An Introduction to Behavioral Finance (Clarendon Lectures in Economics)
Published by
Oxford University Press, United Kingdom, Oxford, 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
Used
Paperback
Seller: WorldofBooks, Goring-By-Sea, WS, United Kingdom
Seller rating 5 out of 5 stars
Paperback. Condition: Very Good. The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. This book describes an alternative approach to the study of financial markets: behavioral finance. This approach starts with an observation that the assumptions of investor rationality and perfect arbitrage are overwhelmingly contradicted by both psychological and institutional evidence. In actual financial markets, less than fully rational investors trade against arbitrageurs whose resources are limited by risk aversion, short horizons, and agency problems. The book presents and empirically evaluates models of such inefficient markets. Behavioral finance models both explain the available financial data better than does the efficient markets hypothesis and generate new empirical predictions. These models can account for such anomalies as the superior performance of value stocks, the closed end fund puzzle, the high returns on stocks included in market indices, the persistence of stock price bubbles, and even the collapse of several well-known hedge funds in 1998. By summarizing and expanding the research in behavioral finance, the book builds a new theoretical and empirical foundation for the economic analysis of real-world markets. The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. Seller Inventory # GOR001966247
Quantity: 1 available
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Inefficient Markets: An Introduction to Behavioral Finance (Clarendon Lectures in Economics)
Published by
Oxford University Press, 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
Used
Softcover
Seller: Anybook.com, Lincoln, United Kingdom
Seller rating 5 out of 5 stars
Condition: Poor. This is an ex-library book and may have the usual library/used-book markings inside.This book has soft covers. Book contains pen & pencil markings. In poor condition, suitable as a reading copy. Please note the Image in this listing is a stock photo and may not match the covers of the actual item,400grams, ISBN:9780198292272. Seller Inventory # 8246447
Quantity: 1 available
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Inefficient Markets: An Introduction to Behavioral Finance
Published by
Oxford University Press, 2002
ISBN 10: 0198292279
ISBN 13: 9780198292272
Used
Softcover
Seller: Anybook.com, Lincoln, United Kingdom
Seller rating 5 out of 5 stars
Condition: Poor. This is an ex-library book and may have the usual library/used-book markings inside.This book has soft covers. In poor condition, suitable as a reading copy. Please note the Image in this listing is a stock photo and may not match the covers of the actual item,350grams, ISBN:9780198292272. Seller Inventory # 9401310
Quantity: 1 available