Marchés financiers et anticipations rationnelles

Reflets et perspectives de la vie économique, 2004, vol. XLIII, issue 2, 7-17

Abstract: Focused on the « rational expectations hypothesis», which has served as the foundation of modeling and empirical research in financial microeconomics under the heading of « efficient market hypothesis» (EMH), this paper is dedicated firstly to provide, through a careful analysis of some popular statements among finance practitioners, precise indications of what EMH does and does not consist of. The se~cond part develops a critical analysis of the « anomalies» revealed by systematic testing of the EMH, and to the implications thereof for portfolio management.

Keywords: Financial markets; rational expectations; efficient market hypothesis; port- folio management (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:cai:rpvedb:rpve_432_0007

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