Inefficient markets : an introduction to behavioral finance / Andrei Shleifer.
Shleifer, Andrei
Inefficient markets : an introduction to behavioral finance / Andrei Shleifer. - Oxford: Oxford University Press, 2000. - viii, 216p. : illustrations ; 23 cm.
Summary: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 Contents:
Are financial markets efficient?
Noise trader risk in financial markets
The closed-end fund puzzle
Professional arbitrage
A model of investor sentiment
Positive feedback investment strategies
Open problems
9780198292272
Actions
inefficient markets
behavioral finance
Efficient market theory
Actions (Titres de société) Prix
332.6 / SHL-00
Inefficient markets : an introduction to behavioral finance / Andrei Shleifer. - Oxford: Oxford University Press, 2000. - viii, 216p. : illustrations ; 23 cm.
Summary: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 Contents:
Are financial markets efficient?
Noise trader risk in financial markets
The closed-end fund puzzle
Professional arbitrage
A model of investor sentiment
Positive feedback investment strategies
Open problems
9780198292272
Actions
inefficient markets
behavioral finance
Efficient market theory
Actions (Titres de société) Prix
332.6 / SHL-00