I've seen this paper enough to warrant a comment. The paper makes no reduction that the market is computing in P, so it's unclear to me how this conclusion of P

I've seen this paper enough to warrant a comment. The paper makes no reduction that the market is computing in P, so it's unclear to me how this conclusion of P=NP iff EMH is warranted by the paper. Perhaps more clearly showing the connection between 'complexity' in the general sense and EMH is this paper[0], showing that even (eps, eps)-weak (or approximate) Nash equilibria are communication-hard (exponential in the number of players), would be the first that has convinced me that markets are highly unlikely to be efficient. --- [0] https://arxiv.org/pdf/1608.06580.pdf https://arxiv.org/pdf/1608.06580.pdf