{"product_id":"market-efficient-cycle-theory-construction-empirical-study-and-application-9781487812447","title":"Market Efficient Cycle Theory: Construction, Empirical Study, and Application","description":"In this groundbreaking book, Prof. Song embarks on a transformative journey to challenge and reshape the foundational principles of modern Western finance. With over a decade of dedicated research, he critically examines the existing theoretical landscape, exposing contradictions and divergences that have long hindered the development of financial theory. He argues that the stagnation in modern Western financial theory, rooted in the overthrow of the rational person hypothesis, demands a fresh perspective. \u003cp\u003e\u003c\/p\u003eThe central theme revolves around his innovative theories-- the Market Efficient Cycle and Average Rationality. By redefining the efficient market hypothesis and introducing the concept of an effective cycle, he addresses long-standing controversies and disagreements within financial theory. His notion of \" average rationality\" transcends the traditional dichotomy of rational and bounded rational actors, providing a nuanced understanding of investor behavior. \u003cp\u003e\u003c\/p\u003eThis book offers insights into the price discovery function of the capital market and implications for government regulation. It is a powerful tool for understanding macroeconomic trends and systemic financial risks and formulating long-term investment strategies.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Royal Collins Publishing Company\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 07\/15\/2024\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9781487812447\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 428","brand":"Yuchen Song","offers":[{"title":"Default Title","offer_id":44413621534901,"sku":"9781487812447","price":39.06,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0473\/0804\/6492\/files\/img_5a856038-a135-4170-85c6-0ff30b5fd911.jpg?v=1720537998","url":"https:\/\/pastforward.org\/products\/market-efficient-cycle-theory-construction-empirical-study-and-application-9781487812447","provider":"Past Forward","version":"1.0","type":"link"}