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Analysis of efficient markets
Harel, Arie; Harpaz, Giora; Francis, Jack Clark - In: Review of quantitative finance and accounting 36 (2011) 2, pp. 287-296
Persistent link: https://www.econbiz.de/10009272494
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Analysis of Efficient Markets
Harel, Ariel - 2015
A simple trading model employs Bayes Rule to aggregate traders' forecasts about risky assets' returns. Bayes Rule operates like an omnipotent market-maker in performing tasks that in 1776 Adam Smith attributed to the "invisible hand."
Persistent link: https://www.econbiz.de/10013024893