3 ms·
The EMH doesn't take in to account arbitrage risk (http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1292533 http://papers.ssrn.com/sol3/papers.cfm?abstract_id
by rwolf 17y ago
The EMH doesn't take in to account arbitrage risk (http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1292533 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1292533) among other things.
Bonus questions:
Is it so inefficient that models based on EMH should be replaced?
Is there a better assumption we can base finance on?