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The arbitrage opportunity might well persist indefinitely, only because the people with the analytical skills to correct it don't care about winning play money
by goodside 17y ago
The arbitrage opportunity might well persist indefinitely, only because the people with the analytical skills to correct it don't care about winning play money on a fake stock exchange. The authors obviously found it more worthwhile to publish a research paper than to start a make-believe hedge fund.
- jerf 17y agoI agree with you entirely. I was more making a point about the results; thinking of them statically is a mistake. If it were for real money it wouldn't persist very long at all.