3 ms·

Well, actually, they kinda do. Also, https://arxiv.org/abs/1002.2284 https://arxiv.org/abs/1002.2284

• naasking 9y ago
  From your link: > Financially, the “economic calculation problem” of von Mises (1920) and Hayek (1935) suggests, among other things, that, even if a free market is not perfectly efficient, it will certainly be more efficient than a regulatory or government alternative. In other words, even if mispricings occasionally occur, most of the time they are smaller than any other alternative system So the paper possibly disproves a particular kind of efficiency (weak form efficiency), but that's not the colloquial meaning to which I was referring.