45、Capital market efficiency is desirable, but there are limitations in achieving full market efficiency. Which of the following is least likely to be a limitation in achieving full capital market efficiency? A. Cost of trading. B. Survivorship bias. C. Limits of arbitrage. D. Cost of information.
Correct answer = B
"Market Efficiency and Anomalies," Vijay Singal
2008 Modular Level I, Vol. 5, pp. 100-104
Study Session 13-55-a
explain the three limitations to achieving fully efficient markets
Survivorship bias is not a limitation in achieving market efficiency. It is a source of unreliability of a market anomaly. For example, the finding of market timing prowess on the part of certain investors may be the result of survivorship bias and not an example of market inefficiency that can be exploited.
| 
发表于 2008-5-27 15:08
| 
