Talk:Financial market efficiency

message: I propose renaming this page "Market Efficiency". This will (i) clarify why it should not be merged with the one on "Efficient Market Hypothesis", and (ii) legitimize the content about allocative efficiency, which is not, in my understanding, a type of financial market efficiency but rather a type of efficiency of goods-and-services markets, where different agents can themselves be more or less efficient. There is currently no page called "Market Efficiency", and typing that search term in fact redirects users to "Efficient Market Hypothesis". That's misleading, because there's a lot more to market efficiency, which the present page begins to explain. RMGunton (talk) 20:52, 4 July 2018 (UTC)
thread_title:  Renaming Proposal 

message: I propose that Efficient-market hypothesis be merged into Financial market efficiency. I think that the content in the Efficient-market hypothesis article can easily be explained in the context of Financial market efficiency, and the Financial market efficiency article is of a reasonable size in which the merging of Efficient-market hypothesis will not cause any problems as far as article size or undue weight is concerned.
:Oppose - If anything, this article should be removed. The belief that the markets are efficient is solely based on the efficient market hypothesis. If there are items not mentioned in this article, then they should be fit into the Efficient market hypothesis article.Sposer (talk) 13:20, 27 April 2012 (UTC)
replies: text: I agree.  The Financial market efficiency entry should be removed and anything useful in it added to the Efficient-market hypothesis entry. Andy Denis 10:58, 28 October 2012 (UTC)

text: The biggest difficulty here is that the Joint Hypothesis Problem (JHP) has been equated with the Efficient Market Hypothesis. The opposite is the fact. The JHP says that it is impossible to prove efficiency (or inefficiency) without first establishing a valid market pricing model (Fama(1991)), and that "valid" means a model that explains both absolute price levels and variations over time. This has not existed so far, although I have current work with the JBFA that explains why we have not been able to achieve a single model that works across markets and through time. The key issue is behavior of markets around dividend payments, which ties in with dividend capture, positive pricing of dividends, Miller and Modigliani (1960) and the tax clientele effect. --peterrice@ozemail.com.au--  — Preceding unsigned comment added by 124.170.251.121 (talk) 00:53, 19 June 2013 (UTC)
thread_title:  Merger Proposal 

message: The account of Tobin's 4 types of financial market efficiency needs some attention. In particular, "2. Fundamental valuation efficiency" states that "Asset prices reflect the expected past flows of payments associated with holding the assets (profit forecasts are correct...)". But "expected past flows" seems to be an oxymoron, and the bit in brackets then seems to refer instead to future flows. This would be consistent with the excerpt here, but this also says that fundamental valuation efficiency corresponds to the strong EMH, and thus conflicts with the closing statement in this section of our Wikipedia page: "This reflects the weak information efficiency model".  
More generally, none of the 4 types are expressed in terms of efficiency; they are given as propositions, whereas efficiency needs to be quantifiable.  So I propose to rewrite this section based on the excerpt linked above, unless someone else knows better. Thanks - RMGunton (talk) 14:32, 5 July 2018 (UTC)
replies: text: I've now deleted the word "past" - but the other problems remain. RMGunton (talk) 16:15, 17 September 2018 (UTC)
thread_title:  Section on Market efficiency types 

message: Hello fellow Wikipedians,
I have just added archive links to  on Financial market efficiency. Please take a moment to review my edit. If necessary, add  after the link to keep me from modifying it. Alternatively, you can add  to keep me off the page altogether. I made the following changes:
*Added archive https://web.archive.org/20090530160842/http://www.msnbc.msn.com:80/id/30743552 to http://www.msnbc.msn.com/id/30743552/
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Cheers.—cyberbot IITalk to my owner:Online 15:37, 21 March 2016 (UTC)
thread_title:  External links modified 

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