Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
612-822-4611

  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Inertia: Purposeful Inefficiencies in Financial Markets

Inertia: Purposeful Inefficiencies in Financial Markets

Millo, Yuval
Spence, Crawford
Valentine, James J.

Hardcover

EconomicsInvesting & FinanceGeneral Sociology

ISBN10: 0231212224
ISBN13: 9780231212229
Publisher: Columbia University Press
Published: Feb 4 2025
Pages: 248
Weight: 1.02
Height: 0.69 Width: 5.50 Depth: 8.50
Language: English

Winner, 2025 Choice Outstanding Academic Title

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.

1 different editions

Also available

Also from

Millo, Yuval

View All

Also in

Investing & Finance

View All