Check nearby libraries
Buy this book
![Loading indicator](/images/ajax-loader-bar.gif)
Chronicling the rise and fall of the efficient market theory and the century-long making of the modern financial industry, Justin Fox's The Myth of the Rational Market is as much an intellectual whodunit as a cultural history of the perils and possibilities of risk. The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today. It's a tale that features professors who made and lost fortunes, battled fiercely over ideas, beat the house in blackjack, wrote best-selling 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 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 maker and loser of fortunes, the driver of trillions of dollars, the inspiration for index funds and vast new derivatives markets, and the guidepost for thousands of careers. The theory holds that the market is always right, and that the decisions of millions of rational investors, all acting on information to outsmart one another, always provide the best judge of a stock's value. That myth is crumbling. Celebrated journalist and columnist Fox introduces a new wave of economists and scholars who no longer teach that investors are rational or that the markets are always right. Many of them now agree with Yale professor Robert Shiller that the efficient markets theory "represents one of the most remarkable errors in the history of economic thought." Today the theory has given way to counterintuitive hypotheses about human behavior, psychological models of decision making, and the irrationality of the markets. Investors overreact, underreact, and make irrational decisions based on imperfect data. In his landmark treatment of the history of the world's markets, Fox uncovers the new ideas that may come to drive the market in the century ahead. - Jacket flap.
Check nearby libraries
Buy this book
![Loading indicator](/images/ajax-loader-bar.gif)
Previews available in: English
Subjects
Rational expectations (Economic theory), Economics, Psychological aspects, History, Investment Analysis, Stocks, Business & Economics, Business / Economics / Finance, Business/Economics, Investments & Securities - General, Business & Economics / Investments & Securities, Economic History, Economics - Theory, Economics, psychological aspects, Economics, history, Wall street (new york, n.y.)Showing 9 featured editions. View all 9 editions?
Edition | Availability |
---|---|
1
Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street
2016, Broomfield Publishing
in English
1906659699 9781906659691
|
zzzz
Libraries near you:
WorldCat
|
2 |
zzzz
Libraries near you:
WorldCat
|
3
The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street
Feb 08, 2011, Harper Business, HarperBusiness
paperback
0060599030 9780060599034
|
zzzz
Libraries near you:
WorldCat
|
4
Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street
2009, HarperCollins Publishers
in English
0061885746 9780061885747
|
zzzz
Libraries near you:
WorldCat
|
5
Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street
2009, HarperCollins Publishers
in English
0061885754 9780061885754
|
aaaa
Libraries near you:
WorldCat
|
6
Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street
2009, HarperCollins Publishers
in English
0061885703 9780061885709
|
zzzz
Libraries near you:
WorldCat
|
7
Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street
2009, HarperCollins Publishers
in English
0061885762 9780061885761
|
zzzz
Libraries near you:
WorldCat
|
8
Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street
2009, HarperCollins Publishers
in English
006188572X 9780061885723
|
zzzz
Libraries near you:
WorldCat
|
9
The Myth of the Rational Market: a history of risk, reward, and delusion on Wall Street
April 8, 2008, Harper Business, an imprint of HarperCollins Publishers
Hardcover
in English
0060598999 9780060598990
|
eeee
|
Community Reviews (0)
Feedback?History
- Created February 28, 2022
- 1 revision
Wikipedia citation
×CloseCopy and paste this code into your Wikipedia page. Need help?
February 28, 2022 | Created by ImportBot | Imported from Better World Books record |