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An Introduction to Socio-Finance (Paperback, Softcover reprint of the original 1st ed. 2013)
Loot Price: R1,408
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An Introduction to Socio-Finance (Paperback, Softcover reprint of the original 1st ed. 2013)
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This introductory text is devoted to exposing the underlying nature
of price formation in financial markets as a predominantly
sociological phenomenon that relates individual decision-making to
emergent and co-evolving social and financial structures. Two
different levels of this sociological influence are considered:
First, we examine how price formation results from the social
dynamics of interacting individuals, where interaction occurs
either through the price or by direct communication. Then the same
processes are revisited and examined at the level of larger groups
of individuals. In this book, models of both levels of
socio-finance are presented, and it is shown, in particular, how
complexity theory provides the conceptual and methodological tools
needed to understand and describe such phenomena. Accordingly,
readers are first given a broad introduction to the standard
economic theory of rational financial markets and will come to
understand its shortcomings with the help of concrete examples.
Complexity theory is then introduced in order to properly account
for behavioral decision-making and match the observed market
dynamics. This book is conceived as a primer for newcomers to the
field, as well as for practitioners seeking new insights into the
field of complexity science applied to socio-economic systems in
general, and financial markets and price formation in particular.
General
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