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    Question 2

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    Phebieon Mukwenha
    The document discusses how the efficient market hypothesis in finance has been challenged by economists who emphasize behavioral elements and those who argue stock returns are somewhat predictable, and it examines challenges to the hypothesis and the relationship between predictability and efficiency, ultimately concluding markets are more efficient and returns less predictable than some recent studies claim.

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    Question 2

    Uploaded by

    Phebieon Mukwenha
    13 views1 page
    The document discusses how the efficient market hypothesis in finance has been challenged by economists who emphasize behavioral elements and those who argue stock returns are somewhat predictable, and it examines challenges to the hypothesis and the relationship between predictability and efficiency, ultimately concluding markets are more efficient and returns less predictable than some recent studies claim.

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    The document discusses how the efficient market hypothesis in finance has been challenged by economists who emphasize behavioral elements and those who argue stock returns are somewhat predictable, and it examines challenges to the hypothesis and the relationship between predictability and efficiency, ultimately concluding markets are more efficient and returns less predictable than some recent studies claim.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    13 views1 page

    Question 2

    Uploaded by

    Phebieon Mukwenha
    The document discusses how the efficient market hypothesis in finance has been challenged by economists who emphasize behavioral elements and those who argue stock returns are somewhat predictable, and it examines challenges to the hypothesis and the relationship between predictability and efficiency, ultimately concluding markets are more efficient and returns less predictable than some recent studies claim.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Revolutions often spawn counterrevolutions and the efficient market hypothesis in finance is no

    exception. The intellectual dominance of the efficient-market revolution has more been challenged
    by economists who stress psychological and behavioral elements of stock-price determination and
    by econometricians who argue that stock returns are, to a considerable extent, predictable. This
    survey examines the attacks on the efficient-market hypothesis and the relationship between
    predictability and efficiency. I conclude that our stock markets are more efficient and less
    predictable than many recent academic papers would have us believe.

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