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The joint hypothesis problem is the problem that testing for market efficiency is difficult, or even impossible. Any attempts to test for market (in)efficiency must involve asset pricing models so that there are expected returns to compare to real returns. It is not possible to measure 'abnormal' returns without expected returns predicted by ...
The Recycler was a U.S. newspaper first published, in July 1973, under the name E-Z Buy E-Z Sell by the Canadians Gunter and Nancy Schaldach after they moved to Los Angeles, California, and modeled after a similar publication in Vancouver. It started as a biweekly, mimeographed, 16-page publication. The intention was to sell the paper for 25 ...
This division of the LAEDC conducts notable and widely quoted economic and industry research published for the public. The Institute for Applied Economics [formerly the LAEDC Economic and Policy Consulting Department and the LAEDC Economic and Policy Analysis] and the now-defunct Kyser Center for Economic Research [whose functions were absorbed by the Institute] provides fee-based consulting ...
The adaptive market hypothesis, as proposed by Andrew Lo, [1] is an attempt to reconcile economic theories based on the efficient market hypothesis (which implies that markets are efficient) with behavioral economics, by applying the principles of evolution to financial interactions: competition, adaptation, and natural selection. [2]
Research by Alfred Cowles in the 1930s and 1940s suggested that professional investors were in general unable to outperform the market. During the 1930s-1950s empirical studies focused on time-series properties, and found that US stock prices and related financial series followed a random walk model in the short-term. [8]
A soft market test is a procurement exercise designed to test commercial markets' capabilities of meeting a set of requirements which would include enough interested suppliers to maintain competitive pressures. The exercise is unlikely to result immediately in an order for goods and services: more likely is that the outcome of the exercise will ...
Bank and financial market efficiency. Emerald Group. ISBN 978-0-7623-1099-9. Richard, Mark; Vecer, Jan (1 February 2021). "Efficiency Testing of Prediction Markets: Martingale Approach, Likelihood Ratio and Bayes Factor Analysis". Risks. 9 (2). Davidson, Paul. Financial markets, money and the real world. Edward Elgar Publishing, 2002.
The General Motors streetcar conspiracy refers to the convictions of General Motors (GM) and related companies that were involved in the monopolizing of the sale of buses and supplies to National City Lines (NCL) and subsidiaries, as well as to the allegations that the defendants conspired to own or control transit systems, in violation of Section 1 of the Sherman Antitrust Act.