EVOLUTIONARY FOUNDATIONS OF EQUILIBRIA IN IRRATIONAL MARKETS

Title of the books is EVOLUTIONARY FOUNDATIONS OF EQUILIBRIA IN IRRATIONAL MARKETS . Author Name :NA. Excellent book for the General Books, GENERAL. Published by SPRINGER. One of the core building blocks of traditional economic theory is the concept of equilibrium, a state of the world in which economic forces are balanced and in the absence of external influences the values of economic variables remain static. Many traditional equilibrium models, or equilibria, are established based on the rational behavior of individuals within financial markets, such as traders, market analysts, and investing firms, and their ability to maximize profits, no matter the cost. Yet what happens when these market participants behave in an irrational manner, and how does this impact economic equilibria? Contemporary economists have agreed that a process similar to Darwin's Theory of Natural Selection takes over, whereby equilibria are shaped not by the behavior of individual participants but by an environment outside its control (i.e., an environment with little concern for maximizing profits).

• Satisfaction 100% Guaranteed
• Shipping Charges Applicable
• Latest Editions