IDEAS home Printed from https://ideas.repec.org/p/kob/dpaper/dp2022-24.html
   My bibliography  Save this paper

Efficient Market Theorists in the Early Nineteenth Century: The Earl of Lauderdale (1759–1839) and Yamagata Bantō (1748–1821)

Author

Listed:
  • Yasuo Takatsuki

    (Research Institute for Economics and Business Administration, Kobe University, JAPAN)

  • Taro Hisamatsu

    (Faculty of Commerce, Doshisha University, JAPAN)

Abstract

Based on his concept that information is factored into prices in efficient markets, Eugene Fama made a significant contribution to financial economics by enabling empirical analysis of asset prices. It has been noted that the pioneering idea of informational efficiency can be found in the 1805 pamphlet of a British economist Lauderdale. Yamagata Bantō, a Japanese philosopher of the same period who is lesser known internationally, also discussed price theory, including similar idea, in his own words, unlike Lauderdale. Bantō could derive such a thought due to his academic background at Kaitokudō and his daily business in the Osaka-Dōjima rice-market.

Suggested Citation

  • Yasuo Takatsuki & Taro Hisamatsu, 2022. "Efficient Market Theorists in the Early Nineteenth Century: The Earl of Lauderdale (1759–1839) and Yamagata Bantō (1748–1821)," Discussion Paper Series DP2022-24, Research Institute for Economics & Business Administration, Kobe University.
    • Handle: RePEc:kob:dpaper:dp2022-24
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kob:dpaper:dp2022-24. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Office of Promoting Research Collaboration, Research Institute for Economics & Business Administration, Kobe University (email available below). General contact details of provider: https://edirc.repec.org/data/rikobjp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.