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 …

The efficient markets hypothesis has been the central proposition in finance for nearly thirty
years. It states that securities prices in financial markets must equal fundamental values …

On repeated occasions, Eugene Fama has claimed that critics have failed to offer a
complete alternative to the efficient market hypothesis (EMH). Most notably, in his Nobel …

The efficient-market hypothesis (EMH) is one of the most important economic and financial
hypotheses that have been tested over the past century. Due to many abnormal phenomena …

Behavioral finance models often rely on a concept of individual investors who are prone to
judgment and decision-making errors. This article provides a brief introduction of behavioral …

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 …

This article provides an interesting resolution of the paradox at the heart of efficient markets
theory: namely, in financial markets that appear to be becoming ever more efficient, with …

The proposition that has dominated (or that once dominated) finance for over 30 years is the
efficient markets hypothesis (EMH). The challenges to the EMH have come on a number of …

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 …

The efficient market hypothesis (EMH) is central to fundamental policies of investment
practice, corporate financial management, and corporate financial reporting. The alleged …