Beyond mechanical markets: asset price swings, risk, and the role of the state

By:

Frydman, Roman

Material type: Text

TextPublication details: 2011 Princeton University Press PrincetonDescription: xv, 285 p. : ill. ; 24 cmISBN:

9780691145778

Subject(s):

DDC classification:

339 F7B3

Summary: 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. (http://press.princeton.edu/titles/9409.html)

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Item type	Current library	Call number	Status	Date due	Barcode	Item holds
Book	Ahmedabad	339 F7B3 (Browse shelf(Opens below))	Available		173917

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Previous	339 F2H6 How the economy works: confidence, crashes and self-fulfilling prophecies	339 F4 Financialisation and development in Asia	339 F6H4/95 History of the world economy: international economic relations since 1850	339 F7B3 Beyond mechanical markets: asset price swings, risk, and the role of the state	339.01 D4S2/90 Schaum's outline of theory and problems of macroeconomic theory

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. (http://press.princeton.edu/titles/9409.html)

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