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原文連結
論文資訊
- 類型：已發表論文
- 日期：2021-06-25
摘要
One of the longest debates in 經濟s involves the existence of a rare Hominid “物種” known as Homo 經濟us, the 經濟 human. H. 經濟us is able to determine the optimal use of its resources to maximize its well-being as defined by the assumptions of neoclassical 經濟s, leading to behavior that has come to be known as 經濟 rationality. When interacting with other members of this 物種 in market settings, such behavior leads to a magical outcome. The participants’ self-interested efforts to exploit their disparate pieces of 資訊 aggregates, distills, and compresses their 資訊 into a single number: the price. And because no piece of 資訊 is left unused or uninterpreted in the process of price discovery, this market is deemed “efficient.” Prices fully reflect all available 資訊, as Eugene Fama concluded in his first artic
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