A powerful challenge to contemporary economics and a new agenda for global finance 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 ...
Read More
A powerful challenge to contemporary economics and a new agenda for global finance 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.
Read Less
Add this copy of Beyond Mechanical Markets: Asset Price Swings, Risk, to cart. $8.26, good condition, Sold by More Than Words rated 5.0 out of 5 stars, ships from Waltham, MA, UNITED STATES, published 2011 by Princeton University Press.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
Good. . All orders guaranteed and ship within 24 hours. Your purchase supports More Than Words, a nonprofit job training program for youth, empowering youth to take charge of their lives by taking charge of a business.
Add this copy of Beyond Mechanical Markets: Asset Price Swings, Risk, to cart. $10.29, fair condition, Sold by BooksRun rated 4.0 out of 5 stars, ships from Philadelphia, PA, UNITED STATES, published 2011 by Princeton University Press.
Add this copy of Beyond Mechanical Markets: Asset Price Swings, Risk, to cart. $10.99, good condition, Sold by Wonder Book - Member ABAA/ILAB rated 5.0 out of 5 stars, ships from Frederick, MD, UNITED STATES, published 2011 by Princeton University Press.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
Good. Good condition. Very Good dust jacket. A copy that has been read but remains intact. May contain markings such as bookplates, stamps, limited notes and highlighting, or a few light stains.
Add this copy of Beyond Mechanical Markets: Asset Price Swings, Risk, to cart. $13.80, good condition, Sold by Academybookshop rated 4.0 out of 5 stars, ships from Long Island City, NY, UNITED STATES, published 2011 by Princeton University Press.
Add this copy of Beyond Mechanical Markets: Asset Price Swings, Risk, to cart. $14.20, very good condition, Sold by Academybookshop rated 4.0 out of 5 stars, ships from Long Island City, NY, UNITED STATES, published 2011 by Princeton University Press.
Add this copy of Beyond Mechanical Markets: Asset Price Swings, Risk, to cart. $14.85, very good condition, Sold by ThriftBooks-Dallas rated 5.0 out of 5 stars, ships from Dallas, TX, UNITED STATES, published 2011 by Princeton University Press.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
Very good. A copy that has been read, but remains in excellent condition. Pages are intact and are not marred by notes or highlighting, but may contain a neat previous owner name. The spine remains undamaged. An ex-library book and may have standard library stamps and/or stickers. At ThriftBooks, our motto is: Read More, Spend Less.
Add this copy of Beyond Mechanical Markets-Asset Price Swings, Risk, and to cart. $30.83, new condition, Sold by Books2anywhere rated 5.0 out of 5 stars, ships from Fairford, GLOUCESTERSHIRE, UNITED KINGDOM, published 2011 by Princeton University Press.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
Add this copy of Beyond Mechanical Markets-Asset Price Swings, Risk, and to cart. $32.75, new condition, Sold by Paperbackshop International rated 4.0 out of 5 stars, ships from Fairford, GLOS, UNITED KINGDOM, published 2011 by Princeton University Press.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
Add this copy of Beyond Mechanical Markets: Asset Price Swings, Risk, to cart. $33.92, new condition, Sold by Kennys.ie rated 4.0 out of 5 stars, ships from Galway, IRELAND, published 2011 by Princeton University Press.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
New. 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. This title shows how the failure to abandon this assumption hinders our understanding of how markets work, why price swings help allocate capital to worthy companies. Num Pages: 288 pages, Illustrations. BIC Classification: KCK; KCP; KFF. Category: (G) General (US: Trade); (U) Tertiary Education (US: College). Dimension: 240 x 159 x 23. Weight in Grams: 572. 2011. Hardcover.....We ship daily from our Bookshop.
