{"product_id":"stock-exchanges-london-paris-new-york-comparison-2spmgbuf","title":"The Stock Exchanges of London, Paris, and New York. A Comparison.","description":"\u003cp\u003eAn important milestone in the history of financial economic thought, containing what is now recognised as the earliest explicit statement of the ‘efficient-market hypothesis’, that is, the idea that financial markets reflect all available information at any given time.\u003c\/p\u003e\n\u003cp\u003eBuried within an otherwise generally unsurprising comparative analysis of the stock markets of London, Paris, and New York, we find the statement in a discussion of the property market: “… when these shares become publicly known in an open market, the value which they there acquire may be regarded as the judgement of the best intelligence concerning them” (p. 11).\u003c\/p\u003e\n\u003cp\u003eThe widely-contested concept has a long theoretical background, but the modern treatment of the idea is most closely associated with the Nobel Prize-wining economists Paul A. Samuelson and Eugene Fama.\u003c\/p\u003e\n\u003cp\u003eDennistoun, \u003cem\u003eBubbles, Booms and Busts\u003c\/em\u003e, 457.\u003c\/p\u003e\n","brand":"Maggs Bros.","offers":[{"title":"Default Title","offer_id":47841437417629,"sku":"253131","price":2000.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0669\/0045\/9677\/files\/253131_01.jpg?v=1776784215","url":"https:\/\/store.maggs.com\/products\/stock-exchanges-london-paris-new-york-comparison-2spmgbuf","provider":"Maggs Bros.","version":"1.0","type":"link"}