Evolutionary Foundations of Equilibria in Irrational Markets is popular PDF and ePub book, written by Guo Ying Luo in 2011-11-19, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Evolutionary Foundations of Equilibria in Irrational Markets can be Read Online from any device for your convenience.
Evolutionary Foundations of Equilibria in Irrational Markets Book PDF Summary
One of the core building blocks of traditional economic theory is the concept of equilibrium, a state of the world in which economic forces are balanced and in the absence of external influences the values of economic variables remain static. Many traditional equilibrium models, or equilibria, are established based on the rational behavior of individuals within financial markets, such as traders, market analysts, and investing firms, and their ability to maximize profits, no matter the cost. Yet what happens when these market participants behave in an irrational manner, and how does this impact economic equilibria? Contemporary economists have agreed that a process similar to Darwin’s Theory of Natural Selection takes over, whereby equilibria are shaped not by the behavior of individual participants but by an environment outside its control (i.e., an environment with little concern for maximizing profits). It is an environment in which those “selected” produce positive financial gains, but have no regard for how it was obtained or underlying motivations—and those participants suffering losses disappear altogether. Evolutionary Foundations of Equilibria in Irrational Markets proves traditional economic equilibria continue to occur despite natural selection in irrational markets. It covers a wide sampling of equilibria under various scenarios, and each chapter addresses the results of these models at an aggregate level. The text is supplemented with charts and figures to drive home key findings and proofs, making it of interest to students and researchers in the areas of economics and behavioral finance.
Detail Book of Evolutionary Foundations of Equilibria in Irrational Markets PDF
- Author : Guo Ying Luo
- Release : 19 November 2011
- Publisher : Springer Science & Business Media
- ISBN : 9781461407126
- Genre : Business & Economics
- Total Page : 207 pages
- Language : English
- PDF File Size : 21,8 Mb
If you're still pondering over how to secure a PDF or EPUB version of the book Evolutionary Foundations of Equilibria in Irrational Markets by Guo Ying Luo, don't worry! All you have to do is click the 'Get Book' buttons below to kick off your Download or Read Online journey. Just a friendly reminder: we don't upload or host the files ourselves.
