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Market Insanity - 1st Edition - ISBN: 9780128131152, 9780128131169

Market Insanity

1st Edition

A Brief Guide to Diagnosing the Madness in the Stock Market

Author: Michael Taillard
Paperback ISBN: 9780128131152
eBook ISBN: 9780128131169
Imprint: Academic Press
Published Date: 6th March 2018
Page Count: 138
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Table of Contents

1. Introduction
2. The Rational Fallacy
3. Bizarre Biases
4. Bad Behavior
5. Problematic Perception
6. Feeling Foolish
7. Mindful Measures
8. Conclusion


Market Insanity: A Brief Guide to Diagnosing the Madness in the Stock Market is an engaging and accessible primer which applies modern behavioral finance to equity markets. It helps readers understand how logical investment decisions can be betrayed by what Taillard calls "the insanity," all those behavioral quirks which cause us to achieve less than optimal utility. The book describes how limited information, habit, the rules of the game, asymmetric information and ego blend together in potentially toxic ways in market environments, thus creating bubbles, stock runs, and more prosaically, even ‘normal’ equity prices.

In addition, the book discusses the implications of these behaviors in-depth. In so doing, it helps the reader to not only predict the madness within equity markets, but also helps them develop solutions that address and mitigate outcomes.

Key Features

  • Provides detailed and accurate descriptions of the most relevant behavioral anomalies for finance
  • Entertainingly written by a veteran consultant with 15+ years experience helping companies explain anomalous finance behavior in non-economic language
  • Shows how educated finance professionals can use behavioral insights to help build finance solutions
  • Addresses the implications for equity markets in deviations from rationality paradigms
  • Draws on a vast range of literature in explaining anomalous behavior, including economic psychology, economic psychology, evolutionary psychology, anthropology and animal behavior


Upper division undergraduate and graduate finance, accounting or economic students studying tractable behavioral finance problems, and particularly those seeking preparatory reading for upcoming behavioral finance course. Practitioners, including investment managers, financial controllers and treasurers are likely to be interested


No. of pages:
© Academic Press 2018
6th March 2018
Academic Press
Paperback ISBN:
eBook ISBN:

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About the Author

Michael Taillard

Michael Taillard, PhD, MBA, is an economic researcher, author, consultant, and professor whose work emphasizes applied strategy and behavioral research. He has worked with private companies, federal and local government and political organizations, nonprofits, and a variety of media outlets. He currently holds adjunct status in the graduate schools at Central Michigan University as well as Bellevue University. He is the author of Market Insanity: A Brief Guide to Diagnosing the Madness in the Stock Market (Elsevier, 2018) as well as numerous other books including Economics & Modern Warfare, Psychology & Modern Warfare, , and 101 Things Everyone Needs to Know about the Global Economy.

Affiliations and Expertise

Central Michigan University, Mount Pleasant, Michigan and Bellevue University, Bellevue, Nebraska, USA