Handbook of Financial Markets: Dynamics and Evolution
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Handbook of Financial Markets: Dynamics and Evolution

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Description

The models of portfolio selection and asset price dynamics in this volume seek to explain the market dynamics of asset prices. Presenting a range of analytical, empirical, and numerical techniques as well as several different modeling approaches, the authors depict the state of debate on the market selection hypothesis. By explicitly assuming the heterogeneity of investors, they present models that are descriptive and normative as well, making the volume useful for both finance theorists and financial practitioners.
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Product details

  • Hardback | 608 pages
  • 193.04 x 231.14 x 38.1mm | 1,179.33g
  • North-Holland
  • Amsterdam, Netherlands, United States
  • English
  • Approx. 150 illustrations
  • 0123742587
  • 9780123742582
  • 1,772,372

Table of contents

"Introduction"--Thorsten Hens and Klaus Reiner Schenk-Hoppe
1. "Thought and Behavioral Contagion in Capital Markets"--David Hirshleifer and Siew Hong Teoh
2. "How markets digest supply and demand and slowly incorporate information into prices"--Jean-Philippe Bouchaud, J. Doyne Farmer, and Fabrizio Lillo
3. "Stochastic Behavioral Asset Pricing Models and the Stylized Facts"--Thomas Lux
4. "Complex Evolutionary Systems in Behavioral Finance"--Cars Hommes and Florian Wagener
5. "Heterogeneity, Market Mechanisms, and Asset Price Dynamics"--Carl Chiarella, Xue-Zhong He and Roberto Dieci
6. "Perfect Forecasting and Behavioral Heterogeneities"--Jan Wenzelburger
7. "Market Selection and Asset Pricing"--Lawrence Blume and David Easley
8. "Rational Diverse Beliefs and Market Volatility"--Mordecai Kurz
9. "Evolutionary Finance"--Igor V. Evstigneev, Thorsten Hens, Klaus Reiner Schenk-Hoppe
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Review Text

"The research frontier of finance is moving in an ecological direction where trading strategies compete for profits like species in an ecosystem.
This volume, written by leaders in the field, does an excellent job of bringing the reader up to date in this novel, important, and fascinating research area. --William A. Brock, The University of Wisconsin at Madison "The research frontier of finance is moving in an ecological direction where trading strategies compete for profits like species in an ecosystem.
This volume, written by leaders in the field, does an excellent job of bringing the reader up to date in this novel, important, and fascinating research area. --William A. Brock, The University of Wisconsin at Madison
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Review quote

"Mathematical analysis of evolutionary dynamics in financial markets has made significant strides in the last 20 years. The chapters in this Handbook present some of the most important contributions to this expanding literature."
--Andrei Shleifer
Harvard University

"The research frontier of finance is moving in an ecological direction where trading strategies compete for profits like species in an ecosystem.
This volume, written by leaders in the field, does an excellent job of bringing the reader up to date in this novel, important, and fascinating research area."
--William A. Brock
The University of Wisconsin at Madison
show more

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