Abstract
For more than a generation, the topic of market efficiency has been of widespread interest and the focus of considerable research. The issue has been hotly debated and primarily tested in the form of two extensively studied theories: the random walk and the efficient market hypothesis. In light of this, we do not intend to provide an exhaustive review of market efficiency or even take a stand on the topic itself, but rather focus on the key findings and arguments that are central to the debate and review the statistical methods that have been used to test and measure efficiency.
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© 2002 Springer-Verlag London
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Towers, N. (2002). Evidence of Predictability in Financial Markets. In: Shadbolt, J., Taylor, J.G. (eds) Neural Networks and the Financial Markets. Perspectives in Neural Computing. Springer, London. https://doi.org/10.1007/978-1-4471-0151-2_3
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DOI: https://doi.org/10.1007/978-1-4471-0151-2_3
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Online ISBN: 978-1-4471-0151-2
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