图书标签: 金融 经济 经济学 历史 Finance economics&finance economics 心理
发表于2024-11-13
The Myth of the Rational Market pdf epub mobi txt 电子书 下载 2024
Justin Fox’s The Myth of the Rational Market tells the story of how we came to believe that financial markets knew best, and how that belief steered us wrong. Chronicling the rise and fall of efficient market theory and its century-long role in the making of the modern financial industry, the book is both history and intellectual whodunit. It brings to life the people and ideas that forged modern finance and investing, from the Great Depression and into the financial calamity of today. It’s a tale largely about professors, but professors who made and lost fortunes, battled fiercely over ideas, beat the house in blackjack, wrote bestselling books, and played major roles on the world stage. It’s also a tale of Wall Street’s evolution, the power of the market to generate wealth and wreak havoc, and free-market capitalism’s recurrent war with itself.
The efficient market hypothesis—long part of academic folklore but codified in the 1960s at the University of Chicago—has evolved into a powerful myth. It has been the driver of trillions of investing dollars, the inspiration for index funds and vast new derivatives markets. In its strongest form, the theory holds that the decisions of millions of investors, all digging for information and striving for an edge, inevitably add up to rational, perfect markets. That belief has crumbled.
Celebrated journalist Fox introduces a new wave of scholars who no longer teach that investors are rational or that markets are always right. Many now agree with Yale professor Robert Shiller that efficient market theory “represents one of the most remarkable errors in the history of economic thought.” Today the theory is giving way to new hypotheses of market behavior growing out of psychology, physics, evolutionary biology—and even traditional economics. In his landmark intellectual history, Fox uncovers the new ideas that may drive markets in the century ahead.
Justin Fox is TIME's business and economics columnist.
当英语学习资料了〜 :(退化成这样
评分现代金融学的发展历史,大牛们一个接一个登场,八卦特别多
评分From Irving Fisher to random walk, then heading to efficient market hypothesis, ending with behavioral finance, this book goes through the history of finance.
评分From Irving Fisher to random walk, then heading to efficient market hypothesis, ending with behavioral finance, this book goes through the history of finance.
评分现代金融学的发展历史,大牛们一个接一个登场,八卦特别多
Justin Fox's The Myth of the Rational Market reviews the development of financial economics, starting from Irving Fisher, with his The Theory of Interest, to Robert Shiller, with his study in behavioral finance, challenging the efficient-market hypothesis. ...
评分其实我觉得书名应该翻译为《有效市场的神话》,作者并没有很尖锐的批判有效市场假说,更没有论证有效市场假说就是个谬论,只是作者认为许多学者没有把有效市场和现实世界分开,把有效市场当成了信仰而已。 看这本书多少是怀着激动的心情看完的。不管是对于学术研究...
评分作者:英国《金融时报》投资编辑约翰•奥瑟兹(John Authers) 有效市场理论曾是一种“假说”。按照保罗•萨缪尔森(Paul Samuelson)在1937年的说法,这种理论“易被可观察到的事实驳倒”。 但随着该理论的发展以及金融家的更加重视,它变成了一种“既定事实”。到1978年,...
评分其实我觉得书名应该翻译为《有效市场的神话》,作者并没有很尖锐的批判有效市场假说,更没有论证有效市场假说就是个谬论,只是作者认为许多学者没有把有效市场和现实世界分开,把有效市场当成了信仰而已。 看这本书多少是怀着激动的心情看完的。不管是对于学术研究...
评分Justin Fox's The Myth of the Rational Market reviews the development of financial economics, starting from Irving Fisher, with his The Theory of Interest, to Robert Shiller, with his study in behavioral finance, challenging the efficient-market hypothesis. ...
The Myth of the Rational Market pdf epub mobi txt 电子书 下载 2024