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Long TextExercice 81 sur 81

The Myth of the Rational Market

The hypothesis that financial markets are efficient - that asset prices at any given moment reflect all available information and therefore cannot be systematically outperformed by any individual investor - has been, for the better part of half a century, the central dogma of academic finance. Formulated in its…

  • What practical consequences did the efficient market hypothesis have for financial policy?
  • Why did the weaker forms of the efficient market hypothesis prove so durable?

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