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- W1493658903 abstract "Samuelson (1998) offered the dictum that the stock market is micro but macro inefficient. That is, the efficient markets hypothesis works much better for individual stocks than it does for the aggregate stock market. In this paper, we present one simple test, based both on regressions and on a simple scatter diagram that vividly illustrates that there is some truth to Samuelson's dictum. The data comprise all U.S. firms on the CRSP tape that have survived since 1926." @default.
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- W1493658903 date "2002-11-01" @default.
- W1493658903 modified "2023-10-18" @default.
- W1493658903 title "One Simple Test of Samuelson's Dictum for the Stock Market" @default.
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- W1493658903 doi "https://doi.org/10.3386/w9348" @default.
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