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Adaptive Markets : Financial Evolution at the Speed of Thought by Lo, Andrew W.; Lo, Andrew W. is a business book available to read on EtoBox.

What is Adaptive Markets : Financial Evolution at the Speed of Thought about?

**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. The debate is one of the biggest in economics, and the value or futility of investment management and financial regulation hangs on the answer. In this groundbreaking book, Andrew Lo transforms the debate with a powerful new framework in which rationality and irrationality coexist—the Adaptive Markets Hypothesis. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, __Adaptive Markets__ shows that the theory of market efficiency is 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. An ambitious new answer to fundamental questions about economics and investing,

Who reads Adaptive Markets : Financial Evolution at the Speed of Thought?

Author

Lo, Andrew W.; Lo, Andrew W.

Publisher

Princeton University Press

Published

2019

Language

EN

ISBN

9780691196800

Category

business

Subjects

Business, Finance, Economics

Rating

4.4 / 5 (468 ratings)

Updated

2026-03-14