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Sorry, I'm afraid I don't understand your position at all. My point is that, like EMH, none of these are pretending to be the "be all end all solution to all m
by LolWolf 6y ago
Sorry, I'm afraid I don't understand your position at all.
My point is that, like EMH, none of these are pretending to be the "be all end all solution to all models" and it's obviously silly to pretend otherwise? So it seems you're agreeing with me?
- AndrewKemendo 6y agoMaybe you and I agree that EMH shouldn't be considered god's truth, but macroeconomists who inform policymakers and asset pricing theory sure as hell do. Trust the market, market clearing etc... all come out of the philosophy. I think that's the whole crux of the paper - the people informing how we structure our economy shouldn't consider EMH doctrine.
- winston_smith 6y agoThat only works if the alternatives to EMH are better heuristics than it is.