Rational market a myth?

理性市场是神话？

youdao

Almost everyone believed that the market was the most rational place on the planet, yet it failed in a magnificent way.

以前几乎所有人多认为市场是地球上最理性的地方，而现在它也受到了重创。

youdao

Then it turned out that the market was not rational after all.

然后事实证明，市场毕竟不是理性的。

youdao

Theorizing was lacking about market efficiency and rational expectations, which together would lead to stability and the optimal allocation of resources.

FORBES: The Volcker Rule Is in Better Shape That Some Think

"The evidence does suggest that the market is not rational, " says Meir Statman, a finance professor at Santa Clara University in California.

WSJ: Intelligent Investor: Don't Bet the House on Efficient-Market Model

Further proof that the market's investors are not fully rational comes from bid prices.

ECONOMIST: Economics focus