3 ms·
My comment on efficient markets was facetious. Sure, one must consider the time spent at the flea market, but what numerical value does one assign to 1 hour of
by Rod 17y ago
My comment on efficient markets was facetious. Sure, one must consider the time spent at the flea market, but what numerical value does one assign to 1 hour of one's time? In the end, I find that the question "are markets efficient?" is not even well-posed, as one must provide a precise definition of efficient in order to avoid engaging in endless pseudo-philosophical discussion.
- eru 17y agoYes, it's one of that questions that spawns a lot of interesting research, but it's to ill-defined on its own to have a good answer. One needs to add a good definition of `efficient' to make the question (and answers) meaningful.