New thoughts on efficient markets
In: Proceedings of FIKUSZ '09
The globally widespread economic crisis that burst in 2007 has been a central topic of recent papers. Economists and researchers have been pointing out that the crisis underpins the downfall of the efficient market hypothesis (EMH), as part of a search for the roots of the crisis. This undermined the belief in the traditional asset-pricing theories and models. Several papers have surfaced that highlight the role of the EMH in the economic crisis, and have therefore doomed the theory governing market mechanism as dead. This paper presents the current debate and takes the side of proponents of the EMH who argue that that this assertion is flawed, and the EMH remains the most appropriate proxy for understanding market forces. It is the only quantifiable approach to model market prices that is still in use by analysts and investors today.
|This chapter was published in: László Áron Kóczy (ed.) Proceedings of FIKUSZ '09, , pages 139-145, 2009.|
|This item is provided by Óbuda University, Keleti Faculty of Business and Management in its series Proceedings of FIKUSZ '09 with number 139-145.|
|Contact details of provider:|| Postal: 1084 Budapest, Tavaszmezö u. 15-17|
Web page: http://www.kgk.uni-obuda.hu
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jean-Michel Courtault & Yuri Kabanov & Bernard Bru & Pierre Crépel & Isabelle Lebon & Arnaud Le Marchand, 2000.
"Louis Bachelier on the Centenary of "Théorie de la Spéculation","
Wiley Blackwell, vol. 10(3), pages 339-353.
- Jean-Michel Courtault & Youri Kabanov & Bernard Bru & Pierre Crepel & Isabelle Lebon & Arnaud Le Marchand, 2000. "Louis Bachelier On the centenary of Théorie de la Spéculation," Post-Print halshs-00447592, HAL.
When requesting a correction, please mention this item's handle: RePEc:pkk:sfyr09:139-145. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alexandra Vécsey)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.