3 ms·
> in a any liquid market, the price is a reasonable estimate of value. Is it not a tautology? Is there a definition of value that is substantially different fr
by praptak 15y ago
> in a any liquid market, the price is a reasonable estimate of value.
Is it not a tautology? Is there a definition of value that is substantially different from "the equilibrium price in a perfect market"?
- alexchamberlain 15y agoI'm not sure myself, but is a perfect market the same as a liquid market? Don't you need complete price transparency for that?