@article{800643,
      recid = {800643},
      author = {Lo, Andrew W.},
      title = {Adaptive markets : financial evolution at the speed of  thought /},
      pages = {1 online resource (x, 483 pages) :},
      abstract = {"Half of all Americans have money in the stock market, yet  economists can't agree on whether investors and markets are  ration and efficient, as modern financial theory assumes,  or irrational and inefficient, as behavioral economists  believe - and as financial bubbles, crashes, and crises  suggest. This is one of the biggest debates in economics,  and the value or futility of investment management and  financial regulation hang on the outcome. In this  groundbreaking book, Andrew Lo cuts through this debate  with a new framework, the Adaptive Markets Hypothesis, in  which rationality and irrationality coexist. Drawing on  psychology, evolutionary biology, neuroscience, artificial  intelligence, and other fields, "Adaptive Markets" shows  that the theory of marked efficiency isn't wrong but merely  incomplete. When markets are unstable, investors react  instinctively, creating inefficiencies for others to  exploit. Lo's new paradigm explains how financial evolution  shapes behavior and markets at the speed of thought--a fact  revealed by swings between stability and crisis, profit and  loss, and innovation and regulation."--Provided by  publisher.},
      url = {http://library.usi.edu/record/800643},
}