SKU: 485383488

Adaptive Markets: Financial Evolution at the Speed of Thought

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Adaptive Markets: Financial Evolution at the Speed of ThoughtA new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe. The debate is one of the biggest in economics, and the value or futility of investment management and financial regulation hangs on the answer. In

A new, evolutionary explanation of markets and investor behavior

Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe. The debate is one of the biggest in economics, and the value or futility of investment management and financial regulation hangs on the answer. In this groundbreaking book, Andrew Lo transforms the debate with a powerful new framework in which rationality and irrationality coexist--the Adaptive Markets Hypothesis. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency is incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought--a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation. An ambitious new answer to fundamental questions about economics and investing, Adaptive Markets is essential reading for anyone who wants to understand how markets really work.



Binding Type: Paperback
Publisher: Princeton University Press
Published: 05/14/2019
ISBN: 9780691191362
Pages: 504
Weight: 1.85lbs
Size: 9.25h x 6.10w x 1.20d
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SKU: 485383488

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Reviewed in the United States on March 20, 2026
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Model: 36 SqFt(3.4 SqM)
Easy to roll out. Works great  Why did you pick this product vs others?: Fair price for the amount of coverage, good quality  Works well: Easy to install, rolls out great. Forms to contours well
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Reviewed in the United States on July 13, 2025
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BRIAN HEATH
Belleville, US
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Model: 36 SqFt(3.4 SqM)
I used this on the doors of a Toyota Tacoma, worked as it described. Reduced the road noise significantly.. Need to buy another box for the floor and roof of the truck..
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Reviewed in the United States on May 15, 2026
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TimtheK
New York, US
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Model: 36 SqFt(3.4 SqM)
Used in two cars with speaker upgrades. Easy to install but get the roller for assured adhesion.removes "tinnyness" from large metal resonators. Use with foam absorptive material for a complete system.
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TitothePinkTorpedo
Pawtucket, US
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Model: 36 SqFt(3.4 SqM)
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Reviewed in the United States on December 29, 2025

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