Inertia

Purposeful Inefficiencies in Financial Markets

By: Yuval Millo, Crawford Spence, James J. Valentine

Write A Review

Paperback | 4 February 2025 | Edition Number 1

At a Glance

Paperback
248 Pages

Dimensions(cm)
2.16 x 1.4 x 0.15

Paperback

$77.75

or 4 interest-free payments of $19.44 with

Ships in 15 to 25 business days

Financial professionals are paid as if they were capable of "beating the market" on a regular basis. In fact, active fund managers routinely underperform low-cost index funds, and financial analysts frequently produce inaccurate stock recommendations-and many receive large fees even when their clients are losing money. Why do financial intermediaries still persist in the investing world despite this track record? Economic theory, obsessed with notions of market efficiency, has no good answer.

This book demonstrates how long-standing social relationships within the investing world contribute to a state of inertia, which prevents substantive change to the status quo. In financial markets-as in many other settings-social groups persist through habit, routine, and path dependency. Financial intermediaries, for their part, use their positions to maintain and reproduce a state of affairs from which they benefit. Although financial professionals portray their world as one of dynamism and continuous innovation, in reality a strategic and purposeful inertia often prevails. An incisive sociological analysis of the communities that constitute financial markets, Inertia offers new insight into the social structures and dynamics that shape economic action.

Shipping

	Standard Shipping	Express Shipping
Metro postcodes:	$9.99	$14.95
Regional postcodes:	$9.99	$14.95
Rural postcodes:	$9.99	$14.95

Orders over $0.00 qualify for free shipping.

How to return your order

At Booktopia, we offer hassle-free returns in accordance with our returns policy. If you wish to return an item, please get in touch with Booktopia Customer Care.

Additional postage charges may be applicable.