Modern financial markets offer the real world's best approximation to the idealized price auction market envisioned in economic theory. Nevertheless, as the increasingly exquisite and detailed financial data demonstrate, financial markets often fail to behave as they should if trading were truly dominated by the fully rational investors that populate financial theories. These markets anomalies have spawned a new approach to finance, one which as editor Richard Thaler puts it, "entertains the possibility that some agents ...

Advances in Behavioral Finance 1993, Russell Sage Foundation, New York, NY

ISBN-13: 9780871548443

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Advances in Behavioral Finance 1993, Russell Sage Foundation, New York, NY

ISBN-13: 9780871548450

Hardcover

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