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Market Rationality: Efficient Market Hypothesis versus Market Anomalies
European Journal of Economic and Political Studies
View Archive Info| Field | Value | |
| Title |
Market Rationality: Efficient Market Hypothesis versus Market Anomalies
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| Creator |
Kadir Can Yalcin
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Fatih University
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kcyalcin@fatih.edu.tr
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| Description |
Market efficiency theory suggests that market is rational and provides correct pricing. That is, the current prices of securities are close to their fundamental values because of either the rational investors or the arbitragers’ buy and sell action of underpriced or overpriced stocks. On the other hand, observed market anomalies have a challenge for this argument. They claim that irrational investment activities and the arbitrage opportunities’ being limited in markets cause some market anomalies that are inconsistent with efficient market hypothesis. The most commonly seen anomalies are the “volume”, “volatility”, “cash dividends”, “equity premium puzzle”, and the “predictability”. This work is a literature survey, and its main objective is to deal with efficient market theory and market anomalies in order to examine the question “Are markets rational or not"?
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| Subject |
Market Rationality; Efficient Market Hypothesis; Arbitrage; Market Anomalies.
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| ##plugins.schemas.dc.fields.jel.name## |
G02, G10, G12, G19.
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| Source |
European Journal of Economic and Political Studies
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2010
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3
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2
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23-38
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http://www.ejeps.com/index.php/ejeps/article/download/51/51
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| Format |
application/pdf
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| Publisher |
Fatih University
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| Contributor |
—
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| Date |
2016-02-03
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — |
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| Identifier |
http://www.ejeps.com/index.php/ejeps/article/view/51
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1307-6035
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1307-6000
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| Language |
eng
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| Relation |
http://www.ejeps.com/index.php/ejeps/article/view/51/51
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| Rights |
Copyright (c) 2016 European Journal of Economic and Political Studies
http://creativecommons.org/licenses/by-nc-nd/4.0 |
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