6 ms·
A 2010 entry by the same author: Markets are efficient if and only if P = NP https://arxiv.org/abs/1002.2284 https://arxiv.org/abs/1002.2284 :)
by silentmafia 3mo ago
A 2010 entry by the same author:
Markets are efficient if and only if P = NP
https://arxiv.org/abs/1002.2284 https://arxiv.org/abs/1002.2284
:)
- p-e-w 3mo agoAssuming the original result is correct, isn’t the linked paper simply a corollary?
- deleted 3mo ago[deleted]
- philipwhiuk 3mo agoThe newer paper expands on the work of the former.
- Dibby053 3mo agoSo markets can only be (perfectly) efficient or competitive, not both at the same time. Largely theoretical but it tracks common sense!
- ffsm8 3mo agoThe title on this HN submission is just wrong. Click on the link and find out.
- abejfehr 3mo agoisn't that what they're saying with "not both at the same time"? the papers both have opposite signs, one has != and the other has =
- ffsm8 3mo agoWithout the braces around the perfectly I would have understood it... yeah, I think I was misinterpreting what he meant to say
- seizethecheese 3mo agoThe title is wrong but you’re also wrong. Read the abstract of the paper. Here’s the relevant section: > Combined with Maymin (2011), who proved that market efficiency requires P = NP, this yields a fundamental impossibility: markets can be informationally efficient or competitive, but not both.
- dheera 3mo agoIn a P=NP world, it still takes only one uninformed participant to make the market inefficient. I don't think the implication is bidirectionally true unless you assume every single player is rational, infinitely smart, and has access to the same set of information.
- samrus 3mo agoIts game theory so perfect play is assumed. Spherical cows and all that