Well‐functioning financial markets are key to efficient resource allocation in a capitalist
economy. While many managers express reservations about the accuracy of stock prices …

Two prominent economists—one the author of A Random Walk Down Wall Street and the
other a leading scholar in behavioral finance—debate the current validity of the efficient …

SEQUELS ARE RARELY AS good as the originals, so I approach this review of the market
efflciency literature with trepidation. The task is thornier than it was 20 years ago, when work …

The nature and extent of our knowledge of stock market efficiency are examined. The
development of “efficiency”, as a way of thinking about stock markets, is traced from Roberts …

We discuss why investors are likely to be overconfident and how this behavioral bias affects
investment decisions. Our analysis suggests that investor overconfidence can generate …

This article assesses the current state of the efficient market hypothesis, which was the
conventional wisdom among academic economists in the 1970s and most of the 1980s. It …

In a capitalist economy, prices serve to equilibrate supply and demand for goods and
services, continually changing to reallocate resources to their most efficient uses. However …

One of the most influential ideas in the past 30 years is the Efficient Markets Hypothesis, the
idea that market prices incorporate all information rationally and instantaneously. However …

We developed various artificial stock markets populated with different numbers of traders
using a special adaptive form of the Strongly Typed Genetic Programming (STGP)-based …

The sharp economic downturn and turmoil in the financial markets, commonly referred to as
the “global financial crisis,” has spawned an impressive outpouring of blame. The efficient …