A Brief History of Market Efficiency and Stock Market Anomalies

Posted: 25 Jun 1998

See all articles by Elroy Dimson

Elroy Dimson

University of Cambridge - Judge Business School; London Business School; European Corporate Governance Institute (ECGI)

Massoud Mussavian



Every finance professional employs the concept of market efficiency. The theory, evidence and counterevidence focus on a couple of dozen highly influential articles published during the twentieth century. We summarise the origins of and interlinkages between these contributions to the history of finance.

JEL Classification: B00, G14

Suggested Citation

Dimson, Elroy and Mussavian, Massoud, A Brief History of Market Efficiency and Stock Market Anomalies. European Financial Management, Vol 4, No 1, March 1998, Available at SSRN: https://ssrn.com/abstract=84828

Elroy Dimson (Contact Author)

University of Cambridge - Judge Business School ( email )

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London Business School ( email )

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European Corporate Governance Institute (ECGI) ( email )

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Massoud Mussavian

ISAM Funds ( email )

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London, W1U 8EW
United Kingdom

ISAM ( email )

5100 Town Center Circle
Suite 430
Boca Raton, FL 33686
United States

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