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The Efficient Market Hypothesis argues that stock markets are rational – they take into account all relevant information, and incorporate it in an unbiased way. This talk will present evidence that stock prices are instead driven by human psychology.
How do the different versions reflect the politics and culture of their own particular times? What makes a good Carol movie? Is it truth to the original or is it something else?
In this talk we use mathematics to look at these flaws and answer associated questions (eg. voting trends and gerrymandering). For a bit of light relief we will see how the same principles work in the Eurovision Song Contest.
Professor Fletcher proposes that it can be understood in terms of the normal functioning of the mind, which seeks to construct a working model of reality even though it has very little direct contact with that reality.
Today's cry in democratic states, and not just from representatives of populist parties, is government with the people rather than government for the people.