The OECD New Approaches to Economic Challenges (NAEC) Initiative and the OECD Committee on Financial Markets (CFM) organised a workshop on financial markets on 20 October 2017. Andrew Lo, Professor of Finance at the MIT Sloan School of Management, outlines his “adaptive markets hypothesis”, according to which financial market dynamics are driven by our interactions as we behave, learn, and adapt to each other, and to the social, cultural, political, economic, and natural environments in which we live; and survival is the ultimate force driving competition, innovation, and adaptation.

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