3 ms·
The title is wrong but you’re also wrong. Read the abstract of the paper. Here’s the relevant section: > Combined with Maymin (2011), who proved that market ef
by seizethecheese 4mo ago
The title is wrong but you’re also wrong. Read the abstract of the paper. Here’s the relevant section:
> Combined with Maymin (2011), who proved that market efficiency requires P = NP, this yields a fundamental impossibility: markets can be informationally efficient or competitive, but not both.