Saturday, March 5, 2011

Beyond Mechanical Markets

"The efficient markets hypothesis has so few defenders these days that in a sense Roman Frydman and Michael Goldberg score an easy goal in their new book, Beyond Mechanical Markets. However, their ambition is not just to knock down a hypothesis many people already find implausible, but rather to make a deeper point about the nature of financial markets. This is that no conventional modelling approach can describe how markets behave, including the newly fashionable behavioural models."

The Enlightened Economist :: Beyond Mechanical Markets

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