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Doesn't this only prove that there cannot be an efficient market for these special "Turing machine" bonds?
by aprime 17y ago
Doesn't this only prove that there cannot be an efficient market for these special "Turing machine" bonds?
- jplewicke 17y agoThat's definitely true. It's only a counterproof to some extremely strong versions of the EMH that assume that you can buy any possible asset or derivative. http://en.wikipedia.org/wiki/Complete_market http://en.wikipedia.org/wiki/Complete_market