Beyond Mechanical Markets
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Beyond Mechanical Markets
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Author : Roman Frydman
language : en
Publisher: Princeton University Press
Release Date : 2011-02-07
Beyond Mechanical Markets written by Roman Frydman and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-07 with Business & Economics categories.
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.
Conducting Online Research On Amazon Mechanical Turk And Beyond
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Author : Leib Litman
language : en
Publisher: SAGE Publications
Release Date : 2020-05-12
Conducting Online Research On Amazon Mechanical Turk And Beyond written by Leib Litman and has been published by SAGE Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-12 with Psychology categories.
Conducting Online Research on Amazon Mechanical Turk® and Beyond, written by Leib Litman and Jonathan Robinson, provides both students and experienced researchers with essential information about the online platforms most often used for social science research. This insightful and accessible text answers common questions like, "How do I maintain data quality in online studies?," "What is the best way to recruit hard-to-reach samples?" and "How can researchers navigate the ethical issues that are unique to online research?" Drawing on their experiences as the founders of CloudResearch (formerly TurkPrime), the authors provide information that guides new users planning their first online studies and engages even the most experienced researchers with detailed discussions about the challenges of online research. The book begins with an overview of Amazon’s Mechanical Turk and its rapid rise within academic research. Then, the authors describe how to set up an MTurk study with screenshots that walk readers through the steps of creating an account, designing a study, collecting data, and using third-party applications to enhance MTurk’s functionality. Later chapters provide readers with a detailed understanding of the MTurk environment and use data from hundreds of thousands of participants and tens of millions of completed tasks to dive into issues like participant demographics, sources of sampling bias, and the generalizability of findings from MTurk. Finally, the book explores the benefits of using other online platforms as a complement to MTurk and the ethical issues that are unique to conducting research with online participant platforms. Throughout the book, the authors share hands-on advice and best practices, such as those for conducting longitudinal studies or carrying out complex studies. Altogether the mix of data, insight, and advice make this book an essential resource for researchers who want to understand the online environment and the most effective ways to conduct research online.
The Market Is Always Right
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Author : Thomas A. McCafferty
language : en
Publisher: McGraw Hill Professional
Release Date : 2002-11-22
The Market Is Always Right written by Thomas A. McCafferty and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-11-22 with Business & Economics categories.
Rules for successful trading, direct from the traders who practice them every day Even with today's high-speed computers, online accounts, and information access, traders still live or die based on their abilities to control fear, greed, and emotion. The Market Is Always Right gives traders battle-proven advice for avoiding common trading setbacks by understanding human natureboth their own and others'and directing it toward profitable outcomes. Distilling the wisdom of hundreds of traders, this proactive book starts with 10 overriding rulesfor example, "Evaluate your performance"and then lists the subrules within each, such as "Qualify and quantify your trading pattern." Other examples include: Never chase trades Watch the opendon't trade it When in doubt, get out
Market Ethics And Religion
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Author : Niels Kærgård
language : en
Publisher: Springer Nature
Release Date : 2023-01-18
Market Ethics And Religion written by Niels Kærgård and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-01-18 with Business & Economics categories.
This book deals with the basic question of what money can and cannot buy and offers an analysis of the limitations of the market mechanism. Few concepts are as controversial as religion and the market mechanism. Some consider religion to be in conflict with a modern rational scientific view of life, and thus as a contributory cause of harsh conflicts and a barrier to human happiness. Others consider religious beliefs as the foundation for ethics and decent behaviour. Similar, a number of neoliberal writers acclaimed the market mechanism as one of the greatest triumphs of the human mind, and saw it as the main reason why rich countries became rich. Others are extremely skeptical and stress how this mechanism has result in big multinational firms with powerfully rich owners and masses of poor low-paid workers. Researchers from various fields - economists, social scientists, theologians and philosophers - handle these questions very differently, applying different methods and different ideals. This book offers a synthesis of the different viewpoints. It deals with economists’, theologians’ and philosophers’ differing thoughts about the market and its limitations.
Capitalism Macroeconomics And Reality
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Author : James Crotty
language : en
Publisher: Edward Elgar Publishing
Release Date : 2017-04-28
Capitalism Macroeconomics And Reality written by James Crotty and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-28 with categories.
The essays comprising this collection analyze the deep flaws in the methodological foundation of mainstream economic theory, and explain how these flaws make mainstream economics more ideology than sound social science. James Crotty develops alternative theories built on realistic assumptions that can explain most of the disastrous economic and financial developments of the past four decades. His work contributes to the collective creation of a solid theoretical foundation on which to build an understanding of the ‘laws of motion’ of capitalism in the post WWII era.
The Nobel Factor
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Author : Avner Offer
language : en
Publisher: Princeton University Press
Release Date : 2016-10-03
The Nobel Factor written by Avner Offer and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-03 with Business & Economics categories.
How the creation of the Nobel Prize in Economics changed the economics profession, Sweden, and the world Economic theory may be speculative, but its impact is powerful and real. Since the 1970s, it has been closely associated with a sweeping change around the world—the "market turn." This is what Avner Offer and Gabriel Söderberg call the rise of market liberalism, a movement that, seeking to replace social democracy, holds up buying and selling as the norm for human relations and society. Our confidence in markets comes from economics, and our confidence in economics is underpinned by the Nobel Prize in Economics, which was first awarded in 1969. Was it a coincidence that the market turn and the prize began at the same time? The Nobel Factor, the first book to describe the origins and power of the most important prize in economics, explores this and related questions by examining the history of the prize, the history of economics since the prize began, and the simultaneous struggle between market liberals and social democrats in Sweden, Europe, and the United States. The Nobel Factor tells how the prize, created by the Swedish central bank, emerged from a conflict between central bank orthodoxy and social democracy. The aim was to use the halo of the Nobel brand to enhance central bank authority and the prestige of market-friendly economics, in order to influence the future of Sweden and the rest of the developed world. And this strategy has worked, with sometimes disastrous results for societies striving to cope with the requirements of economic theory and deregulated markets. Drawing on previously untapped Swedish national bank archives and providing a unique analysis of the sway of prizewinners, The Nobel Factor offers an unprecedented account of the real-world consequences of economics—and its greatest prize.
Doing Capitalism In The Innovation Economy
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Author : William H. Janeway
language : en
Publisher:
Release Date : 2018-05-17
Doing Capitalism In The Innovation Economy written by William H. Janeway and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-17 with Business & Economics categories.
Shows how the digital revolution, sponsored by government and funded by speculation, now challenges the authority and legitimacy of the state.
Banking In Crisis
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Author : John D. Turner
language : en
Publisher: Cambridge University Press
Release Date : 2014-07-10
Banking In Crisis written by John D. Turner and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-10 with Business & Economics categories.
A full account of the rise and fall of British banking stability which sheds new light on why banking systems crash.
Philosophy Of Economics
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Author : D. Ross
language : en
Publisher: Springer
Release Date : 2016-04-30
Philosophy Of Economics written by D. Ross and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-30 with Philosophy categories.
Don Ross provides a concise and distinct introduction to the philosophy of economics for students in need of a short but engaging study of the main issues in the subject today. Ross offers his own provocative interpretation of the value of economics in science and public policy giving a unique perspective from a world authority.
Behavioral Economics
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Author : Fabrizio Ghisellini
language : en
Publisher: Springer
Release Date : 2018-07-06
Behavioral Economics written by Fabrizio Ghisellini and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-06 with Business & Economics categories.
This book sets the agenda to turn behavioral economics, which has long been considered a subordinate discipline, into mainstream economics. Ghisellini and Chang expose the conceptual and empirical inadequacy of conventional economics using illustrations of real world decision-making in a dynamic environment, including evidence from the global financial crisis. With a rigorous yet accessible style, they give a comprehensive overview of behavioral economics and of the current state of play in the field across different schools of thought. Seven major conceptual problems still affecting the development of behavioral economics are identified and the authors propose research avenues to address these issues and allow the discipline to receive its long-awaited recognition. Crucial reading for researchers and students looking for insights into the many unsolved problems of economics.