Inefficient markets An introduction to behavioral finance

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 f...

詳細記述

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書誌詳細
第一著者: Shleifer, Andrei
その他の著者: Andrei Shleifer
言語:Undetermined
English
出版事項: Oxford,New York Oxford University Press 2000
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Thư viện lưu trữ: Trung tâm Học liệu Trường Đại học Trà Vinh
その他の書誌記述
要約: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. 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
物理的記述:viii, 216 p.
ill.
23 cm
ISBN:0198292279
9780198292272