NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

On the Impossibility of Informationally Efficient Markets

Sanford J. Grossman, Joseph E. Stiglitz

NBER Reprint No. 121
Issued in December 1980
NBER Program(s):   PE

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Published: Grossman, S. J. and Stiglitz, J. E. "On the Impos sibility of Informationally Efficient Markets." The American Economic Review, Vol. 70, No. 3, (June 1980), pp. 393-408.

 
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