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by pjc50
2748 days ago
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> efficient markets are not deceptive markets. Participants are assumed to share equal information. Unfortunately this does not exist outside the textbook; there's an entire field devoted to information economics (Akerloff, Stiglitz et al). And then there's the brilliant "markets are efficient iff P=NP" paper: https://arxiv.org/pdf/1002.2284.pdf |
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