

Markets are Efficient if and Only if P = NP - newscasta
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1773169

======
ColinWright
Discussed at considerable length a month ago:

<http://news.ycombinator.com/item?id=2895474>

At that time I said this:

    
    
        It feels to me that all he's done is show that the
        "instantly" in the usual definition of markets being
        "efficient" is a nonsense. Prices must take time to
        compute, you can't know the correct price instantly
        even with access to all the past information.
    
        He proves that, but it doesn't seem that surprising
        to me.
    

<http://news.ycombinator.com/item?id=2895531>

That was expanded on a great deal, and other observations made.

There was also an earlier version of the paper submitted some 19 months ago,
also with a great deal of discussion:

<http://news.ycombinator.com/item?id=1144548>

~~~
newscasta
Thanks for this, I should have searched before posting.

