Informative Prices, Rational Investors: The Emergence of the Random Walk Hypothesis and the Nineteenth-Century “Science of Financial Investments”
- 1 June 2004
- journal article
- Published by Duke University Press in History of Political Economy
- Vol. 36 (2) , 351-386
- https://doi.org/10.1215/00182702-36-2-351
Abstract
Research for this article was supported by a Barra International Fellowship at the Library Company of Philadelphia and a Gilder Lehrman Fellowship at the New York Historical Society. I thank the anonymous reviewers for their valuable suggestions and criticisms. Yuval Millo and Franck Jovanovic have also provided very useful suggestions and information. A previous version of this article was presented in November 2000 at a workshop titled“Financial Cultures” organized at the University of Bielefeld,Germany.Keywords
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