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 …

These two volumes bring together the most influential articles surrounding the Efficient
Markets Hypothesis debate, from Paul Samuelson's pathbreaking proof that properly …

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 …

The assumption in studies that focus on short return windows is that any lag in the response
of prices to an event is short-lived. There is a developing literature that challenges this …

The tendency of some investors to hold on to their losing stocks, driven by prospect theory
and mental accounting, creates a spread between a stock's fundamental value and its …

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 …

Measuring the degree of time varying market inefficiency - ScienceDirect Skip to main
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This paper examines the degree of market efficiency of the French Stock Market and tries to
check both the efficient market hypothesis (EMH) and the adaptative market hypothesis …

Recently, several behavioral finance models based on the overconfidence hypothesis have
been proposed to explain anomalous findings, including a short-term continuation …

abstract Revolutions often spawn counterrevolutions and the efficient market hypothesis in
finance is no exception. The intellectual dominance of the efficient-market revolution has …