{"product_id":"inertia-yuval-millo-9780231212229","title":"Inertia: Purposeful Inefficiencies in Financial Markets","description":"\u003cp\u003eFinancial 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. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eThis 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, \u003ci\u003eInertia\u003c\/i\u003e offers new insight into the social structures and dynamics that shape economic action.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Yuval Millo, Crawford Spence, James J. Valentine\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 0231212224\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9780231212229\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Columbia University Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 02\/04\/2025\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 248\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.02lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 8.50h x 5.50w x 0.69d","brand":"Yuval Millo","offers":[{"title":"Hardcover","offer_id":46465657897215,"sku":"9780231212229","price":135.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_1c9d4851-61e5-4722-8009-43950598b2b2.jpg?v=1736346902","url":"https:\/\/www.whiterainbookhouse.com\/products\/inertia-yuval-millo-9780231212229","provider":"WR Book House","version":"1.0","type":"link"}