Alphanomics The Informational Underpinnings of Market Efficiency Charles Lee, Eric So

Format:
Paperback
ISBN:
9781601988928
Published:
28th February 2016
Publisher:
now publishers Inc
Dimensions:
80 pages: 234 x 156 x 12mm
Series:
Foundations and Trends in Accounting

This monograph is dedicated to the kind of decision-driven and prospectively-focused research that is much needed in a market constantly seeking to become more efficient. We refer to this type of research as "Alphanomics", the informational economics behind market efficiency. The "Alpha" portion refers to the abnormal returns, or financial rewards, which provide the incentive for some subpopulation of investors to engage in information acquisition and costly arbitrage activities. The "Nomics" refers to the economics of alpha extraction, which encompasses the costs and incentives of informational arbitrage as a sustainable business proposition.


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