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A brief history of market efficiency[Note 1. We have benefited from comments by Ray Ball, Dick ...]
Author(s) -
Dimson Elroy,
Mussavian Massoud
Publication year - 1998
Publication title -
european financial management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.311
H-Index - 64
eISSN - 1468-036X
pISSN - 1354-7798
DOI - 10.1111/1468-036x.00056
Subject(s) - dozen , market efficiency , focus (optics) , economics , financial economics , neoclassical economics , keynesian economics , positive economics , physics , arithmetic , mathematics , optics
Every finance professional employs the concept of market efficiency. The theory, evidence and counter‐evidence focus on a couple of dozen highly influential articles published during the twentieth century. We summarise the origins of and interlinkages between these contributions to the history of finance.