8 Matching Annotations
  1. Mar 2021
    1. <small><cite class='h-cite via'> <span class='p-author h-card'>Jeremy Cherfas</span> in IndieWeb chat (<time class='dt-published'>03/11/2021 14:46:39</time>)</cite></small>

  2. Dec 2020
  3. Nov 2020
  4. Sep 2020
  5. Feb 2020
    1. The rational expectation and thelearning-from-price literatures argue that equilibrium prices are accurate becausethey reveal and aggregate the information of all market participants. The MarketSelection Hypothesis,MSH, proposes instead that prices become accurate becausethey eventually reflect only the beliefs of the most accurate agent. The Wisdomof the Crowd argument,WOC, however suggests that market prices are accuratebecause individual, idiosyncratic errors are averaged out by the price formationmechanism

      Three models (arguments for) drivers of market efficiency