News From the Field
Psychology Influences Markets
July 1, 2013
When it comes to economics versus psychology, score one for psychology. Economists argue that markets usually reflect rational behavior--with the dominant players in a market, such as hedge-fund managers, almost always making well-informed and objective decisions. But psychologists say that markets are not immune from human irrationality. A new analysis by Caltech researchers supports the latter case, showing that markets are indeed susceptible to psychological phenomena.
California Institute of Technology
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