Paving Wall Street - Experimental Economics and the Quest for the Perfect Market

Informationen zum Autor ROSS M. MILLER is founder and President of Miller Risk Advisors. After several years of teaching finance and economics at major universities! he established the quantitative finance research group at General Electric and then served as a Senior Vice President and Director of Research at an international investment bank. His articles have been widely published in journals such as Econometrica! the Journal of Portfolio Management! and Risk. Miller´s acclaimed textbook! Computer-Aided Financial Analysis! has been very well received. Klappentext Praise for Paving Wall Street"This is a remarkable book that weaves the deep scientific roots of modern finance and modern financial institutions with humorous perspective and considerable wisdom. Few understand the pervasive and complex economic principles that govern our world of finance. Few are aware of the academic and scientific origins of financial practices and market instruments that are commonplace today. Ross Miller uses his experience and talents acquired as an experimental economist to help us understand a world that is contradictory! potentially dangerous! and paradoxical. He entertains us while doing it." --Charles R. Plott! Edward S. Harkness Professor of Economics and Political Science! California Institute of Technology"Decisions by millions of individuals produce the fierce tides and churning seas of Wall Street. Miller wields his microscope in the laboratory of experimental economics to provide a sprightly and insightful analysis of investor behavior." --Richard Zeckhauser! Frank P. Ramsey Professor of Political Economy! John F. Kennedy School of Government! Harvard University"Dramatic new ways for buying and selling-spectrum auctions! e-commerce! derivatives-are the economics profession's contribution to the Information Revolution. This book explains how many of these innovations began with simple experiments at Caltech. The style is a refreshing combination-dramatic and fun to read! but also historically and scientifically accurate. So! I can send one to my Dad! a salesman! and another to my girlfriend! a patent attorney." --Colin Camerer! Rea and Lela Axline Professor of Business Economics! California Institute of Technology"Paving Wall Street is a first-rate insight into bubbles and the experimental research performed on the topic by leading academicians such as Vernon Smith." --David Dreman! Chairman! Dreman Value Management"Academic ideas have revolutionized how Wall Street operates. Entirely new markets have been created. This revolution continues today! accelerated by the rise of increasingly automated markets. Ross Miller has produced a book that makes the leading-edge financial and economic thinking that shapes these new markets accessible to practitioners and professionals. With no equations and a deft touch! this is an excellent guide to the future of greater Wall Street." --David J. Leinweber! PhD! Economics/Social Sciences! California Institute of Technology Zusammenfassung Ereignisse wie das Platzen der Internetblase und der Zusammenbruch der California Power Exchange machen deutlich! dass wir mit dem Eintritt ins 21. Jahrhundert noch immer auf der Suche nach einer konsequenten und schmerzlosen Möglichkeit sind! Angebot und Nachfrage miteinander in Einklang zu bringen. Deshalb ist man an der Wall Street dabei! eine neue Art stabiler und effizienter ´cleverer Märkte´ zu entwickeln! die besser in der Lage sind! den Extremen menschlichen Verhaltens zu trotzen. "Paving Wall Street" ist eine unterhaltsame und verständlich geschriebene Einführung in das topaktuelle Gebiet der "Experimental Economics"! das untersucht! wie Adam Smiths "unsichtbare Hand" funktioniert und warum sie bisweilen "außer Kontrolle" gerät. Autor Ross Miller ist ein echter Pionier auf diesem Gebiet und ein führender Finanzberater. Hier nimmt er 50 Jahre Forschungsarbeit der Spitzenuniversitäten unter die Lupe und s...

Product details

• Authors: Ross M. Miller, Ross M. Smith Miller
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 14.01.2002
• EAN: 9780471121985
• ISBN: 978-0-471-12198-5
• No. of pages: 336