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The answers are based on Maloney and Mulherin, 2003, The complexity of price discovery in an efficient market: the stock market reaction to the Challenger

The answers are based on Maloney and Mulherin, 2003, The complexity of price discovery in an efficient market: the stock market reaction to the Challenger crash. Please read ONLY part 1 and part 2 (the first 8 pages) of the paper.

Does this paper provide an evaluation of efficient market hypothesis? why or why not?

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