The Right Coast
October 20, 2004
Bainbridge on the ECMH and Behavioral Economics
By Mike Rappaport
Great column by Stephen Bainbridge on the efficient capital markets theory and behavioral economics. The bottom line -- which has been the one I have held since law school during the "decade of greed" -- capital markets in general work well and the possibilities of cognitive biases by regulators are a strong argument against regulating such markets.