Rethinking the Efficient Markets Hypothesis

Nhat Le

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SSRN Electronic Journal

Article . 2012 . Peer-reviewed

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https://dx.doi.org/10.2139/ssr...

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Rethinking the Efficient Markets Hypothesis

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type 01 Jan 2012 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Nhat Le;

doi: 10.2139/ssrn.1999543

Rethinking the Efficient Markets Hypothesis

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Abstract

We develop an adaptive learning game to rethink the efficient markets hypothesis using the stochastically stable state of this game to characterize a richer set of market states than those suggested by the hypothesis. In particular, the model predicts that the economy may follow a path leading to bubbles.

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Vietnam National University, Ho Chi Minh City
Viet Nam

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