Adaptive Markets: Financial Evolution at the Speed of Thought
Andrew W. Lo
Adaptive Markets: Financial Evolution at the Speed of Thought
Andrew W. Lo
A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can’t agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe–and as financial bubbles, crashes, and cr
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