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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

  1. 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."
    1. Summarize the essential elements of the EMH
    2. Briefly explain and evaluate 5 important criticisms of the EMH
    3. What conclusions do you draw about the practical validity of the EMH

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