Inefficient markets : an introduction to behavioral finance /

"The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. This book desc...

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Detalles Bibliográficos
Autor principal: Shleifer, Andrei
Formato: Libro
Lenguaje:Inglés
Publicado: Oxford ; New York : Oxford University Press, 2000.
Colección:Clarendon lectures in economics
Materias:
Aporte de:Registro referencial: Solicitar el recurso aquí
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100 1 |a Shleifer, Andrei. 
245 1 0 |a Inefficient markets :  |b an introduction to behavioral finance /  |c Andrei Shleifer. 
260 |a Oxford ;  |a New York :  |b Oxford University Press,  |c 2000. 
300 |a viii, 216 p. :  |b il. ;  |c 23 cm. 
490 1 |a Clarendon lectures in economics 
504 |a Incluye referencias bibliográficas (p. 198-210) e índice. 
505 0 |a 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. 
520 |a "The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. 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." --Descripción del editor. 
650 0 |a Finance. 
650 0 |a Investments. 
650 0 |a Stocks  |x Prices. 
650 0 |a Efficient market theory. 
650 7 |a Finanzas.  |2 UDESA 
650 7 |a Inversiones.  |2 UDESA 
650 7 |a Acciones (Bolsa).  |x Precios.  |2 UDESA 
650 7 |a Teoría de mercado eficiente.  |2 UDESA 
830 0 |a Clarendon lectures in economics