arXiv 7 Jan 2018 · Econometrics
arXiv:1801.02994 · PDF · DOI · OpenAlex · Extracted main text
This article is a prologue to the article "Why Markets are Inefficient: A Gambling 'Theory' of Financial Markets for Practitioners and Theorists." It presents important background for that article --- why gambling is important, even necessary, for real-world traders --- the reason for the superiority of the strategic/gambling approach to the competing market ideologies of market fundamentalism and the scientific approach --- and its potential to uncover profitable trading systems. Much of this article was drawn from Chapter 1 of the book "The Strategic Analysis of Financial Markets (in 2 volumes)" World Scientific, 2017.
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The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.
| Reference | Intensity | Mentions | Sections | Main text | |
|---|---|---|---|---|---|
| 1 | Moffitt, S. D (2017) Theory self | 0.928 | 4 | 4 | 100% |
| 2 | Moffitt, S. D (2017) The Strategic Analysis of Financial Markets, Volume 1: Framework self | 0.843 | 3 | 3 | 100% |
| 3 | Moffitt, S. D (2017) The Strategic Analysis of Financial Markets, Volume 2: Trading System Analytics self | 0.644 | 2 | 2 | 100% |
| 4 | Lakonishok, J. and Smidt, S (1988) Are seasonal anomalies real? a ninety-year perspective | 0.511 | 2 | 1 | 100% |
| 5 | Ziemba, W (2012) Calendar Anomalies and Arbitrage | 0.511 | 2 | 1 | 100% |
| 6 | Gama, P. M. and Vieira, E. F. S (2013) Another look at the holiday effect | 0.405 | 1 | 1 | 100% |
| 7 | Lee, C. M. C., Shleifer, A., and Thaler, R. H (1991) Investor sentiment and the closed-end fund puzzle | 0.405 | 1 | 1 | 100% |
| 8 | Smith, V., Suchanek, G. L., and Williams, A (1988) Bubbles, crashes, and endogenous expectations in experimental spot asset markets | 0.405 | 1 | 1 | 100% |
| 9 | Ziemba, W. T (1994) World wide security market regularities | 0.405 | 1 | 1 | 100% |
| 10 | Alevy, J. E., Haigh, M. S., and List, J (2006) Information cascades: Evidence from an experiment with financial market professionals | 0.405 | 1 | 1 | 100% |
Showing the top 10 of 17 scored citations.