Hasanhodzic, Jasmina; Lo, Andrew; Viola, Emanuele - In: Quantitative Finance 11 (2011) 7, pp. 1043-1050
We study market efficiency from a computational viewpoint. Borrowing from theoretical computer science, we define a market to be efficient with respect to resources S (e.g., time, memory) if no strategy using resources S can make a profit. As a first step, we consider memory-m strategies whose...