Why financial markets are inefficient

Roger E. A. Farmer , 22 January 2013

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Writing in a review of Justin Fox’s book The Myth of the Efficient Market, Richard Thaler (2009) has drawn attention to two dimensions of the efficient markets hypothesis, what he refers to as:

Topics: Financial markets, Macroeconomic policy
Tags: efficient market hypothesis, Finance, first welfare theorem, market fluctuations

New light on choice of investment strategy

Dimitri Vayanos, Paul Woolley, 18 January 2012

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January finds many pondering the issue of what to do with their savings in the new year. There are two primary and distinct techniques of asset management: momentum and fair value.

Topics: International finance
Tags: efficient market hypothesis, investment, investment strategy

Capital market theory after the efficient market hypothesis

Dimitri Vayanos, Paul Woolley, 5 October 2009

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Forty years have passed since the principles of classical economics were first applied formally to finance through the contributions of Eugene Fama (1970) and his now-renowned fellow academics.

Topics: Financial markets
Tags: asset pricing, Behavioural economics, efficient market hypothesis

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