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For those that are interested, this is known as the Grossman-Stiglitz Paradox. See their original paper, "On the Impossibility of Informationally Efficient Markets" (1980). In my o…

Thanks for explaining, and after reflection I must apologize for implying Nature Physics was disreputable. I understand it is not a mainstream economics or finance journal, so the …

I love reading critiques of articles by Hacker News readers in their fields of expertise, and finally feel I may be able to make a small contribution to the community. Below are so…