Doyle, John R.; Chen, Catherine H. - In: European Journal of Operational Research 227 (2013) 1, pp. 122-132
This paper shows that tests of Random Number Generators (RNGs) may be used to test the Efficient Market Hypothesis (EMH). It uses the Overlapping Serial Test (OST), a standard test in RNG research, to detect anomalous patterns in the distribution of sequences of stock market movements up and...