عنوان

Beyond mechanical markets :

شابک

1400838185

شابک

661300135X

شابک

9781400838189

شابک

9786613001351

شابک اشتباه

0691145776

شابک اشتباه

9780691145778

عنوان اصلي

Beyond mechanical markets :

نام عام مواد

[Book]

ساير اطلاعات عنواني

asset price swings, risk, and the role of the state /

نام نخستين پديدآور

Roman Frydman and Michael D. Goldberg.

محل نشرو پخش و غیره

Princeton :

نام ناشر، پخش کننده و غيره

Princeton University Press,

تاریخ نشرو بخش و غیره

©2011.

نام خاص و کميت اثر

1 online resource (xv, 285 pages) :

ساير جزييات

illustrations

متن يادداشت

Includes bibliographical references and index.

متن يادداشت

What Went Wrong and What We Can Do about It (The Fatal Flaw -- Assuming Away What Matters Most -- The Imperfect Knowledge Alternative -- Fishermen and Financial Markets -- The Survival of the Rational Market Myth -- Opening Economics and Finance to Nonroutine Change and Imperfect Knowledge -- Imperfect Knowledge Economics and Its Implications -- A New Understanding of Asset-Price Swings, Risk, and the Role of the State) -- Part I: The Critique (1. The Invention of Mechanical Markets -- 2. The Folly of Fully Predetermined History -- 3. The Orwellian World of "Rational Expectations" -- 4. The Figment of the "Rational Market" -- 5. Castles in the Air: The Efficient Market Hypothesis -- 6. The Fable of Price Swings as Bubbles) -- Part II: An Alternative (7. Keynes and Fundamentals -- 8. Speculation and the Allocative Performance of Financial Markets -- 9. Fundamentals and Psychology in Price Swings -- 10. Bounded Instability: Linking Risk and Asset-Price Swings -- 11. Contingency and Markets -- 12. Restoring the Market-State Balance) -- Epilogue (What Can Economists Know? -- The Search for Omniscience -- Sharp versus Contingent Predictions -- Recognizing Our Own Imperfect Knowledge -- Imperfect Knowledge Economics as the Boundary of Macroeconomic Theory References).

بدون عنوان

0

متن يادداشت

"In the wake of the global financial crisis that began in 2007, faith in the rationality of markets has lost ground to a new faith in their irrationality. The problem, Roman Frydman and Michael Goldberg argue, is that both the rational and behavioral theories of the market rest on the same fatal assumption--that markets act mechanically and economic change is fully predictable. In Beyond Mechanical Markets, Frydman and Goldberg show how the failure to abandon this assumption hinders our understanding of how markets work, why price swings help allocate capital to worthy companies, and what role government can and can't play. The financial crisis, Frydman and Goldberg argue, was made more likely, if not inevitable, by contemporary economic theory, yet its core tenets remain unchanged today. In response, the authors show how imperfect knowledge economics, an approach they pioneered, provides a better understanding of markets and the financial crisis. Frydman and Goldberg deliver a withering critique of the widely accepted view that the boom in equity prices that ended in 2007 was a bubble fueled by herd psychology. They argue, instead, that price swings are driven by individuals' ever-imperfect interpretations of the significance of economic fundamentals for future prices and risk. Because swings are at the heart of a dynamic economy, reforms should aim only to curb their excesses. Showing why we are being dangerously led astray by thinking of markets as predictably rational or irrational, Beyond Mechanical Markets presents a powerful challenge to conventional economic wisdom that we can't afford to ignore."--Publisher's description.

منبع سفارش / آدرس اشتراک

JSTOR

منبع سفارش / آدرس اشتراک

OverDrive, Inc.

منبع سفارش / آدرس اشتراک

Safari Books Online

شماره انبار

22573/ctt11gjm

شماره انبار

CD11C87F-175D-472A-9EA8-35AD51D14BF9

شماره انبار

CL0500000121

عنوان

Beyond mechanical markets.

شماره استاندارد بين المللي کتاب و موسيقي

9780691145778

موضوع مستند نشده

Economic forecasting.

موضوع مستند نشده

Global Financial Crisis, 2008-2009.

موضوع مستند نشده

Keynesian economics.

موضوع مستند نشده

Rational expectations (Economic theory)

موضوع مستند نشده

Risk.

موضوع مستند نشده

Securities-- Prices.

موضوع مستند نشده

BUSINESS & ECONOMICS-- Economics-- Macroeconomics.

موضوع مستند نشده

Economic forecasting.

موضوع مستند نشده

Keynesian economics.

موضوع مستند نشده

POLITICAL SCIENCE-- Economic Conditions.

موضوع مستند نشده

POLITICAL SCIENCE-- Public Policy-- Economic Policy.

موضوع مستند نشده

Rational expectations (Economic theory)

موضوع مستند نشده

Risk.

موضوع مستند نشده

Securities-- Prices.

موضوع مستند نشده

BUS-- 039000

موضوع مستند نشده

BUS027000

موضوع مستند نشده

BUS069000

موضوع مستند نشده

POL-- 023000

موضوع مستند نشده

POL024000

شماره

ويراست

شماره رده

نشانه اثر

شماره رده

شماره رده

کد سيستم

کد سيستم

مستند نام اشخاص تاييد نشده

Frydman, Roman,1948-

مستند نام اشخاص تاييد نشده

Goldberg, Michael D.,1958-

تاريخ عمليات

20200822122752.0

قواعد فهرست نويسي ( بخش توصيفي )

pn

نام الکترونيکي

نوع ماده

[Book]

تكميل شده

Y