Behavioural finance studies the psychological factors that influence financial behaviour both on the level of the individual as well as on the level of the market. So far these results have been mainly used to explain the existence of patterns in asset prices and to develop investment strategies...

This chapter gives an overview of current research in evolutionary finance. We mainly focus on the survival and stability properties of investment strategies associated with the Kelly rule. Our approach to the study of the wealth dynamics of investment strategies is inspired by Darwinian ideas...

Contents Part I Foundations 1 Introduction 3 1.1 An Introduction to This Book 3 1.2 An Introduction to Financial Economics ...