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Efficient Markets
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Professor Chadha explains why a cornerstone of Economics syllabuses is also widely disregarded. The Efficient Market Hypothesis would have us believe that markets are enormous news processors and that they set prices more efficiently than any other system. However, it doesn't take long to find examples where this isn't true. Professor Chadha, the Gresham Professor of Commerce introduces this puzzle in the short interview ahead of his lectures this year.
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