Abounoori, Esmaiel; Shahrazi, Mahdi; Rasekhi, Saeed - In: Physica A: Statistical Mechanics and its Applications 391 (2012) 11, pp. 3170-3179
The efficient market hypothesis (EMH) states that asset prices fully reflect all available information. As a result, speculators cannot predict the future behavior of asset prices and earn excess profits at least after adjusting for risk. Although initial tests of the EMH were performed on stock...
