Marchés financiers et anticipations rationnelles
AbstractFocused on the « rational expectations hypothesis», which has served as the foundation of modeling and empirical research in financial microeconomics under the heading of « efficient market hypothesis» (EMH), this paper is dedicated firstly to provide, through a careful analysis of some popular statements among finance practitioners, precise indications of what EMH does and does not consist of. The se~cond part develops a critical analysis of the « anomalies» revealed by systematic testing of the EMH, and to the implications thereof for portfolio management.
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Bibliographic InfoArticle provided by De Boeck Université in its journal Reflets et perspectives de la vie économique.
Volume (Year): XLIII (2004)
Issue (Month): 2 ()
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Web page: http://www.cairn.info/revue-reflets-et-perspectives-de-la-vie-economique.htm
Financial markets; rational expectations; efficient market hypothesis; port- folio management;
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