Toward a General Model of Financial Markets

Aliyev, N

Toward a General Model of Financial Markets

Aliyev, N

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Publication Type:: Chapter
Citation:: Artificial Intelligence, Learning and Computation in Economics and Finance . Understanding Complex Systems, 2023
Issue Date:: 2023-02-16

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Field	Value	Language
dc.contributor.author	Aliyev, N https://orcid.org/0000-0001-9637-2957
dc.date.accessioned	2023-03-08T05:17:39Z
dc.date.available	2023-03-08T05:17:39Z
dc.date.issued	2023-02-16
dc.identifier.citation	Artificial Intelligence, Learning and Computation in Economics and Finance . Understanding Complex Systems, 2023
dc.identifier.isbn	978-3-031-15294-8
dc.identifier.uri	http://hdl.handle.net/10453/166706
dc.description.abstract	This paper discusses the idea of reconciling efficient market hypothesis and behavioral finance using the literature of decision theories and information sciences. The focus is centered on the precision and reliability of information and the broad definition of rationality. The main thesis advanced is that the roots of behavioral anomalies are the imprecision and reliability of information. We propose a general framework that subsumes efficient and inefficient markets as special cases. We also show that the proposed framework helps to understand behavioral anomalies.
dc.language	en
dc.relation.ispartof	Artificial Intelligence, Learning and Computation in Economics and Finance . Understanding Complex Systems
dc.relation.isbasedon	10.1007/978-3-031-15294-8_6
dc.rights	info:eu-repo/semantics/closedAccess
dc.title	Toward a General Model of Financial Markets
dc.type	Chapter
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access	*
pubs.consider-herdc	false
dc.date.updated	2023-03-08T05:17:38Z
pubs.publication-status	Published online

Abstract:

This paper discusses the idea of reconciling efficient market hypothesis and behavioral finance using the literature of decision theories and information sciences. The focus is centered on the precision and reliability of information and the broad definition of rationality. The main thesis advanced is that the roots of behavioral anomalies are the imprecision and reliability of information. We propose a general framework that subsumes efficient and inefficient markets as special cases. We also show that the proposed framework helps to understand behavioral anomalies.

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http://hdl.handle.net/10453/166706