Physics – Condensed Matter – Disordered Systems and Neural Networks
Scientific paper
2001-05-18
Physics
Condensed Matter
Disordered Systems and Neural Networks
5 pages, 1 figure. based on a speech at Tokyo Econophysics Meeting, Nov 14th 2000
Scientific paper
I summarize the recent work on market (in)efficiency, highlighting key
elements why financial markets will never be made efficient. My approach is not
by adding more empirical evidence, but giving plausible reasons as to where
inefficiency arises and why it's not rational to arbitrage it away.
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