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Marchés financiers et anticipations rationnelles

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  • Roland Gillet
  • Ariane Szafarz

Abstract

Focused on the « rational expectations hypothesis», which has served as the foundation of modeling and empirical research in financial microeconomics under the heading of « efficient market hypothesis» (EMH), this paper is dedicated firstly to provide, through a careful analysis of some popular statements among finance practitioners, precise indications of what EMH does and does not consist of. The se~cond part develops a critical analysis of the « anomalies» revealed by systematic testing of the EMH, and to the implications thereof for portfolio management.

Suggested Citation

  • Roland Gillet & Ariane Szafarz, 2004. "Marchés financiers et anticipations rationnelles," Reflets et perspectives de la vie économique, De Boeck Université, vol. 0(2), pages 7-17.
    • Handle: RePEc:cai:rpvedb:rpve_432_0007
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    References listed on IDEAS

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    1. Olivier J. Blanchard & Mark W. Watson, 1982. "Bubbles, Rational Expectations and Financial Markets," NBER Working Papers 0945, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Christel Dumas & Céline Louche, 2016. "Collective beliefs for responsible investment," Post-Print hal-01183744, HAL.

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