The False Strategy theorem tells us that the optimal outcome of an unknown number of historical simulations is right-unbounded — with enough trials, there is no Sharpe ratio sufficiently enough to reject the hypothesis that a strategy is false. Given the ease with which one can use a computer...

Markets and expectations -- Expected utility maximization -- Effects of heterogeneous expectations -- Forecasting among alternative strategies under uncertainty -- Expectations in time series models -- Costly information and decision making -- Applied welfare economics with boundedly rational...

Markets and expectations -- Expected utility maximization -- Effects of heterogeneous expectations -- Forecasting among alternative strategies under uncertainty -- Expectations in time series models -- Costly information and decision making -- Applied welfare economics with boundedly rational...