Inefficient Markets: An Introduction to Behavioral Finance

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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 ...

Inefficient Markets: An Introduction to Behavioral Finance 2000, Oxford University Press, USA

ISBN-13: 9780198292272

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