Market Efficiency and Investment Psychology
The concept of market efficiency is critical for financial markets, and the degree to which financial markets are efficient has important implications for individual investors’ optimal choices. Furthermore, investors often behave irrationally, so it is helpful to recognize and avoid behavioral traps that hurt investment performance.
The main objectives for this chapter are:
• Develop an understanding of:
Market efficiency; and
Why market efficiency implies that individual investors should shun ...
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