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In 1978, Michael Jensen famously wrote: I believe there is no other proposition in economics which has more solid empirical evidence supporting it than the
- In 1978, Michael Jensen famously wrote: "I believe there is no other proposition in economics which has more solid empirical evidence supporting it than the Efficient Market Hypothesis."
- Summarize the essential elements of the EMH
- Briefly explain and evaluate 5 important criticisms of the EMH
- What conclusions do you draw about the practical validity of the EMH
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