The Market Mind Hypothesis PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Market Mind Hypothesis PDF full book. Access full book title The Market Mind Hypothesis by Patrick Schotanus. Download full books in PDF and EPUB format.
Author: Patrick Schotanus
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 311121561X
Category : Business & Economics
Languages : en
Pages : 606
Get Book Here
Book Description
What is economics’ missing link? Recent economic crises have had a devastating impact on society. Worryingly, they gravely risked a collapse of the financial system. These crises also painfully revealed economics’ blind spots. Crucially, economics is not an innocent bystander but central to the problem. In this pioneering book, Patrick Schotanus explains that economics’ mechanical worldview is the ontological error which leads to flawed thinking and faulty practices. The Market Mind Hypothesis (MMH) thus calls it "mechanical economics": it not only erroneously views but also dangerously treats the economy as a machine, the market as an automaton, and its agents as robots. Inspired by heterodox economic and leading cognitive thinkers, this book offers an alternative paradigm. Central to MMH’s psychophysical worldview is the fact that consumers, investors, and other participants are conscious beings and that their minds’ extension makes consciousness a reality in markets, exemplified by market mood. Specifically, denial of the complex mind~matter exchanges as the essence of markets means the extended mind~body problem is economics’ elephant in the room. The book argues that if mechanical economics is the answer, we have been asking the wrong questions. Moreover, we will not solve our economic predicaments by doubling down on the assumption of rationality, nor by identifying yet another behavioural bias. Instead, scholars and students of economics and finance as well as finance practitioners need to investigate—through cognitive economics—the deep links between markets and minds to better understand both.
Author: Patrick Schotanus
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 311121561X
Category : Business & Economics
Languages : en
Pages : 606
Get Book Here
Book Description
What is economics’ missing link? Recent economic crises have had a devastating impact on society. Worryingly, they gravely risked a collapse of the financial system. These crises also painfully revealed economics’ blind spots. Crucially, economics is not an innocent bystander but central to the problem. In this pioneering book, Patrick Schotanus explains that economics’ mechanical worldview is the ontological error which leads to flawed thinking and faulty practices. The Market Mind Hypothesis (MMH) thus calls it "mechanical economics": it not only erroneously views but also dangerously treats the economy as a machine, the market as an automaton, and its agents as robots. Inspired by heterodox economic and leading cognitive thinkers, this book offers an alternative paradigm. Central to MMH’s psychophysical worldview is the fact that consumers, investors, and other participants are conscious beings and that their minds’ extension makes consciousness a reality in markets, exemplified by market mood. Specifically, denial of the complex mind~matter exchanges as the essence of markets means the extended mind~body problem is economics’ elephant in the room. The book argues that if mechanical economics is the answer, we have been asking the wrong questions. Moreover, we will not solve our economic predicaments by doubling down on the assumption of rationality, nor by identifying yet another behavioural bias. Instead, scholars and students of economics and finance as well as finance practitioners need to investigate—through cognitive economics—the deep links between markets and minds to better understand both.
Author: Patrick Schotanus
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 3111215059
Category : Business & Economics
Languages : en
Pages : 494
Get Book Here
Book Description
What is economics’ missing link? Recent economic crises have had a devastating impact on society. Worryingly, they gravely risked a collapse of the financial system. These crises also painfully revealed economics’ blind spots. Crucially, economics is not an innocent bystander but central to the problem. In this pioneering book, Patrick Schotanus explains that economics’ mechanical worldview is the ontological error which leads to flawed thinking and faulty practices. The Market Mind Hypothesis (MMH) thus calls it "mechanical economics": it not only erroneously views but also dangerously treats the economy as a machine, the market as an automaton, and its agents as robots. Inspired by heterodox economic and leading cognitive thinkers, this book offers an alternative paradigm. Central to MMH’s psychophysical worldview is the fact that consumers, investors, and other participants are conscious beings and that their minds’ extension makes consciousness a reality in markets, exemplified by market mood. Specifically, denial of the complex mind~matter exchanges as the essence of markets means the extended mind~body problem is economics’ elephant in the room. The book argues that if mechanical economics is the answer, we have been asking the wrong questions. Moreover, we will not solve our economic predicaments by doubling down on the assumption of rationality, nor by identifying yet another behavioural bias. Instead, scholars and students of economics and finance as well as finance practitioners need to investigate—through cognitive economics—the deep links between markets and minds to better understand both. With a foreword by investment strategist Russell Napier, an intermezzo by neuroscientist and complexity pioneer Scott Kelso, and an afterword by 4E cognition philosopher Julian Kiverstein.
Author: Denise Shull
Publisher: McGraw Hill Professional
ISBN: 0071761527
Category : Business & Economics
Languages : en
Pages : 289
Get Book Here
Book Description
Seize the advantage in every trade using your greatest asset—“psychological capital”! When it comes to investing, we're usually taught to “conquer” our emotions. Denise Shull sees it in reverse: We need to use our emotions. Combining her expertise in neuroscience with her extensive trading experience, Shull seeks to help you improve your decision making by navigating the shifting relationships among reason, analysis, emotion, and intuition. This is your “psychological capital”—and it's the key to making decisions calmly and rationally during the heat of trading. Market Mind Games explains the basics of neuroscience in language you understand, which is the first tool you need to manage the emotional ups and downs of the trading. It then provides you with a rock-solid trading system designed to take full advantage of your emotional assets.
Author: Patrick R. Schotanus
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Jonathan Roffe
Publisher: Palgrave Macmillan
ISBN: 9781137511744
Category : Philosophy
Languages : en
Pages : 0
Get Book Here
Book Description
Financial markets play a huge role in society but theoretical reflections on what constitutes these markets are scarce. Drawing on sources in philosophy, finance, the history of modern mathematics, sociology and anthropology, Abstract Market Theory elaborates a new philosophy of the market in order to redress this gap between reality and theory.
Author: Andrew W. Lo
Publisher: Princeton University Press
ISBN: 069119680X
Category : Business & Economics
Languages : en
Pages : 503
Get Book Here
Book Description
A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can’t agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe. The debate is one of the biggest in economics, and the value or futility of investment management and financial regulation hangs on the answer. In this groundbreaking book, Andrew Lo transforms the debate with a powerful new framework in which rationality and irrationality coexist—the Adaptive Markets Hypothesis. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency is incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo’s new paradigm explains how financial evolution shapes behavior and markets at the speed of thought—a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation. An ambitious new answer to fundamental questions about economics and investing, Adaptive Markets is essential reading for anyone who wants to understand how markets really work.
Author: John R. Nofsinger
Publisher: Routledge
ISBN: 1315506564
Category : Business & Economics
Languages : en
Pages : 161
Get Book Here
Book Description
A supplement for undergraduate and graduate Investments courses. See the decision-making process behind investments. The Psychology of Investing is the first text of its kind to delve into the fascinating subject of how psychology affects investing. Its unique coverage describes how investors actually behave, the reasons and causes of that behavior, why the behavior hurts their wealth, and what they can do about it. Features: What really moves the market: Understanding the psychological aspects. Traditional finance texts focus on developing the tools that investors use for calculating risk and return. The Psychology of Investing is one of the first texts to delve into how psychology affects investing rather than solely focusing on traditional financial theory. This text’s material, however, does not replace traditional investment textbooks but complements them, helping students become better informed investors who understand what motivates the market. Keep learning consistent: Most of the chapters are organized in a similar succession. This approach adheres to following order: -A psychological bias is described and illustrated with everyday behavior -The effect of the bias on investment decisions is explained -Academic studies are used to show why investors need to remedy the problem Growing with the subject matter: Current and fresh information. Because data on investor psychology is rapidly increasing, the fifth edition contains many new additions to keep students up-to-date. The new Chapter 12: Psychology in the Mortgage Crisis describes the psychology involved in the mortgage industry and ensuing financial crisis. New sections and sub-sections include “Buying Back Stock Previously Sold”, “Who Is Overconfident,” "Nature or Nurture?”, "Preferred Risk Habitat," "Market Impacts," "Language," and “Reference Point Adaptation.”
Author: Michael Magill
Publisher: MIT Press
ISBN: 9780262632546
Category : Business & Economics
Languages : en
Pages : 566
Get Book Here
Book Description
Theory of incompl. markets/M. Magill, M. Quinzii. - V.1.
Author: Bryce Huebner
Publisher: Oxford University Press
ISBN: 019992628X
Category : Philosophy
Languages : en
Pages : 305
Get Book Here
Book Description
We live in an age of scientific collaboration, popular uprisings, failing political parties, and increasing corporate power. Many of these kinds of collective action derive from the decisions of intelligent and powerful leaders, and many others emerge as a result of the aggregation of individual interests. But genuinely collective mentality remains a seductive possibility. This book develops a novel approach to distributed cognition and collective intentionality. It argues that genuine cognition requires the capacity to engage in flexible goal-directed behavior, and that this requires specialized representational systems that are integrated in a way that yields fluid and skillful coping with environmental contingencies. In line with this argument, the book claims that collective mentality should be posited where and only where specialized subroutines are integrated to yields goal-directed behavior that is sensitive to the concerns that are relevant to a group as such. Unlike traditional claims about collective intentionality, this approach reveals that there are many kinds of collective minds: some groups have cognitive capacities that are more like those that we find in honeybees or cats than they are like those that we find in people. Indeed, groups are unlikely to be "believers" in the fullest sense of the term, and understanding why this is the case sheds new light on questions about collective intentionality and collective responsibility.
Author: Frederick Soddy
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 48
Get Book Here
Book Description
