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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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Review
An excellent academic discussion of stock mispricing and other behavioral influences in the stock market. (Jeff Madrick, New York Review of Books)
About the Author
Andrei Shleifer is professor of Economics at Harvard University.
"About this title" may belong to another edition of this title.
- PublisherOxford University Press, U.S.A.
- Publication date2000
- ISBN 10 0198292279
- ISBN 13 9780198292272
- BindingPaperback
- LanguageEnglish
- Number of pages224
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Inefficient Markets: An Introduction to Behavioral Finance (Clarendon Lectures in Economics)
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Oxford University Press, U.S.A., 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
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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
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Inefficient Markets : An Introduction to Behavioral Finance
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ISBN 10: 0198292279
ISBN 13: 9780198292272
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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
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Inefficient Markets: An Introduction to Behavioral Finance
Published by
Oxford University Press, 2002
ISBN 10: 0198292279
ISBN 13: 9780198292272
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Inefficient Markets : An Introduction to Behavioral Finance
Published by
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ISBN 10: 0198292279
ISBN 13: 9780198292272
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Inefficient Markets : An Introduction to Behavioral Finance
Published by
Oxford University Press, Incorporated, 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
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Softcover
Seller: Better World Books, Mishawaka, IN, U.S.A.
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Inefficient Markets: An Introduction to Behavioral Finance
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ISBN 10: 0198292279
ISBN 13: 9780198292272
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Inefficient Markets: An Introduction to Behavioral Finance
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ISBN 10: 0198292279
ISBN 13: 9780198292272
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Inefficient Markets: An Introduction to Behavioral Finance
Published by
Oxford University Press, 2000
ISBN 10: 0198292279
ISBN 13: 9780198292272
Used
Softcover
Seller: Anybook.com, Lincoln, United Kingdom
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