From Cournot’s Principle to Market Efficiency
نویسنده
چکیده
The efficient-markets hypothesis was formulated in the early 1960s, when Cournot’s principle was no longer widely understood and accepted as a philosophical foundation for probability theory. A revival of Cournot’s principle can help us distinguish clearly among different aspects of market efficiency. Glenn Shafer is Professor in the Rutgers Business School Newark and New Brunswick, 180 University Avenue, Newark, New Jersey 07102 USA, and in the Department of Computer Science, Royal Holloway, University of London, Egham, Surrey TW20 0EX UK. E-mail [email protected]; web site www.glennshafer.com.
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تاریخ انتشار 2006