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  • June 2005 (Revised October 2007)
  • Background Note
  • HBS Case Collection

Market Efficiency

By: Joshua D. Coval, Erik Stafford, Rodrigo Osmo, John Jernigan, Zachary Page and Paul Passoni
  • Format:Print
  • | Pages:4
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Abstract

Covers how prices react to information, the incentives for bringing information into prices, and the paradox of market efficiency in equilibrium--for investors to work hard keeping markets efficient, they must always be somewhat inefficient at the margin. Uses separate financial market simulation software.

Keywords

Market Design; Price

Citation

Coval, Joshua D., Erik Stafford, Rodrigo Osmo, John Jernigan, Zachary Page, and Paul Passoni. "Market Efficiency." Harvard Business School Background Note 205-081, June 2005. (Revised October 2007.)
  • Educators

About The Authors

Joshua D. Coval

Finance
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Erik Stafford

Finance
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More from the Authors
  • Success Academy Charter Schools By: Robin Greenwood, Joshua D. Coval, Denise Han, Ruth Page and Dave Habeeb
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