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Fox, Justin, 1964-
The myth of the rational market : a history of risk, reward, and delusion on Wall Street / Justin Fox
Alternate Title History of risk, reward, and delusion on Wall Street
1st Harper Business pbk. ed
New York : Harper Business, 2011
book jacket
Location Call Number Status
 3rd Floor  HB3731 .F69 2011    AVAILABLE
Subject(s) Rational expectations (Economic theory)
Subject Wall Street (New York, N.Y.)
Subject(s) Economics -- Psychological aspects
Economics -- History
Physical Description xvi, 390 p. ; 21 cm
Note Originally published in hardcover, c2009
Includes bibliographical references (p. [341]-377) and index
Contents Introduction: It had been working so exceptionally well -- Early days: Irving Fisher loses his briefcase, and then his fortune ; A random walk from Fred Macaulay to Holbrook Working -- The rise of the rational market: Harry Markowitz brings statistical man to the stock market ; A random walk from Paul Samuelson to Paul Samuelson ; Modigliani and Miller arrive at a simplifying assumption ; Gene Fama makes the best proposition in economics -- The conquest of Wall Street: Jack Bogle takes on the performance cult (and wins) ; Fischer Black chooses to focus on the probably ; Michael Jensen gets corporations to obey the market -- The challenge: Dick Thaler gives economic man a personality ; Bob Shiller points out the most remarkable error ; Beating the market with Warren Buffett and Ed Thorp ; Alan Greenspan stops a random plunge down Wall Street -- The fall: Andrei Shleifer moves beyond rabbi economics ; Mike Jensen changes his mind about the corporation ; Gene Fama and Dick Thaler knock each other out -- Epilogue: The anatomy of a financial crisis
Summary Examines the rise and fall of the efficient markets theory, the development of modern finance, and the rise of behavioral economics, in an account that draws on interviews while demystifying the ideas that forged the modern market

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