Emotional Finance and New Economic Thinking

David Tuckett

Chapter 9 in Minding the Markets, 2011, pp 157-188 from Palgrave Macmillan

Abstract: Abstract I discussed in Chapter 1 how standard economic theory sets out to demonstrate how markets can work. The basic thrust of the argument is that unfettered self-seeking competitive behaviour coordinates an economy and achieves optimal wealth creation and welfare. Markets are self-equilibrating so that inhibiting the behaviour of those in them or interfering with them in any other way than to encourage competition can only produce suboptimal outcomes.

Keywords: Financial Market; Tracking Error; Integrate State; Rational Expectation; Financial Asset (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-30782-7_9

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DOI: 10.1057/9780230307827_9

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