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This work, now in a thoroughly revised second edition, presents the economic foundations of financial markets theory from a mathematically rigorous standpoint a
The Efficient Market Theory and Evidence
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The Efficient Market Hypothesis (EMH) asserts that, at all times, the price of a security reflects all available information about its fundamental value. The im
The Statistical Mechanics of Financial Markets
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Theory of Incomplete Markets
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Financial Markets
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What is finance? What questions does it principally concern itself with answering? What are the underpinnings of the means by which it attempts to answer those