Inefficient Markets: An Introduction to Behavioral Finance

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 m...

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Autore principale: Shleifer, Andrei
Natura: Libro
Lingua:inglese
Pubblicazione: London Oxford University Press 2013
Serie:Clarendon Lectures in Economics.
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245 |a Inefficient Markets: An Introduction to Behavioral Finance 
260 |a London  |b Oxford University Press  |c 2013 
300 |a viii, 216 p.  
490 |a Clarendon Lectures in Economics. 
520 |a 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. 
650 |a Finance  |9 2177 
650 |a Efficient Market Theory  |9 2178 
650 |a Stocks - Prices  |9 2179