Markets are Efficient if and Only if P = NP

[FAGGATRON_3000 !U0FKfqmRjs No.3565510]

>Abstract:
>I prove that if markets are efficient, meaning current prices fully reflect all information available in past prices, then P = NP, meaning every computational problem whose solution can be verified in polynomial time can also be solved in polynomial time. I also prove the converse by showing how we can “program” the market to solve NP-complete problems. Since P probably does not equal NP, markets are probably not efficient. Specifically, markets become increasingly inefficient as the time series lengthens or becomes more frequent. An illustration by way of partitioning the excess returns to momentum strategies based on data availability confirms this prediction.

http://www.moneyscience.com/pg/bookmarks/Admin/read/2400/markets-are-efficient-if-and-only-if-p-np

>thinking that markets are capable of efficient allocation
>ISHYGDDT

[Liberty !!nQrIRh+JHbs No.3565526]

>>3565510

> thinking markets are less efficient that a human planned economy

I sure hope you guys don't do this.

[Anonymous No.3565528]

Shit belongs in /newint/.

Fuck off.

Also,

>economics as science
>2011

[Anonymous No.3565535]

sage

[Liberty !!nQrIRh+JHbs No.3565539]

>>3565528

> 2011
> /sci/
> not science and MATHS


I sure hope you guys don't do this.

[Anonymous No.3565563]

>Implying all of the data isnt changing in real time