Perhaps the most interesting single line of work in behavioral finance pioneered especially by Andrei Shleifer has been the modeling of situations of the kind referred to by my LTCM interviewees. These are situations in which the powers of arbitrage are limited, for example because arbitrageurs have access to only finite amounts of capital, and temporarily adverse price movements can generate margin calls and other demands on capital.

Donald MacKenzie, An Engine, Not a Camera, loc. 1216