Market Efficiency versus Behavioral Finance
Two prominent economists-one the author of "A Random Walk Down Wall Street" and the other a leading scholar in behavioral finance-debate the current validity of the efficient markets hypothesis (EMH). For over 30 years, the idea that capital markets are efficient and that stock prices reflect all publicly available information dominated academic thinking. But the bubble of the late 1990s and recent advances in behavioral finance have forced a re-thinking. 2005 Morgan Stanley.
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Volume (Year): 17 (2005)
Issue (Month): 3 ()
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