Once he has proved that this arrangement can bury itself in a satisfactory manner, he plans to run a competition between robot clams with different shell shapes in order to understand what makes some more efficient than others.

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Wal-Mart ( WMT), too, frightened its weaker grocery competitors early on with its beefy and efficient distribution system and what some saw as its bullying of suppliers and workers, all to keep costs super low.

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You know, graduates, that efficient financial markets are sort of a special case of what some economists call rational expectations.

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