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  3. Journal of Economic Literature
  4. December 2002
  5. Review of Shleifer's Inefficient Markets

Journal of Economic Literature

ISSN 0022-0515 (Print) | ISSN 2328-8175 (Online)

Review of Shleifer's Inefficient Markets

  • Jeffrey Zwiebel
Journal of Economic Literature
vol. 40, no. 4, December 2002
(pp. 1215–1220)
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Abstract

This excellent book provides the reader with a broad introduction to, and a powerful advocacy of, behavioral finance. In the tradition of the best of the Clarendon Lecture Series, Andrei Shleifer provides a clear context and motivation for a collection of his influential ideas in this field, emphasizing central themes that link together the wide scope of this work. Topics include: investor sentiment, the limits of arbitrage, the closed-end fund puzzle, positive feedback investment, and both market overreaction and underreaction to news, as well as general discussions on the motivation for this research and promising future directions.

Citation

Zwiebel, Jeffrey. 2002. "Review of Shleifer's Inefficient Markets." Journal of Economic Literature, 40 (4): 1215–1220. DOI: 10.1257/002205102762203602

JEL Classification

  • G10 General Financial Markets: General (includes Measurement and Data)