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The degree and speed with which a market accurately incorporates information into prices.

Market Efficiency

The extent to which the price of an asset reflects all information available. Economists disagree on how efficient markets are. Followers of the efficient markets theory hold that the market efficiently deals with all information on a given security and reflects it in the price immediately, and that technical analysis, fundamental analysis, and/or any speculative investing based on those methods are useless. On the other hand, the primary observation of behavioral economics holds that investors (and people in general) make decisions on imprecise impressions and beliefs, rather than rational analysis, rendering markets somewhat inefficient to the extent that they are affected by people.


the relationship between the quantities of factor inputs (labour, materials, etc.) used by a firm and the quantity of output which it is able to produce using these inputs. Where a firm is able to produce the same output using fewer inputs or produce more output using the same quantity of inputs then it has improved its efficiency See PRODUCTIVITY.


the relationship between scarce FACTOR INPUTS and OUTPUTS of goods and services. This relationship can be measured in physical terms (TECHNOLOGICAL EFFICIENCY) or cost terms (ECONOMIC EFFICIENCY). The concept of efficiency is used as a criterion in judging how well MARKETS have allocated resources. See MARKET PERFORMANCE, RESOURCE ALLOCATION, ECONOMIZE.
References in periodicals archive ?
This improved understanding of the mathematical underpinnings of codes also means that several families of highly efficient error-correcting codes could soon be available for general use in communications.
Recent studies have shown that the cost of liquid nitrogen can be reduced by as much as two-thirds with a highly efficient production system.
Because connection to a console device via telnet eliminates the need for vendor-specific software, the console server can also prove to be a highly efficient use of resources (both technology and human).
These aerospace radar systems will need highly efficient transmit amplifiers, as well as novel approaches to antenna packaging and integration, to meet requirements for multifunction performance, low mass and affordable cost.
an innovative manufacturer of highly efficient and reliable high-power diode lasers, announced today at the Photonics West event (Booth # 242) the availability of their AMx-808B high-efficiency 808 nm line of chip-on-carrier and fiber-coupled single-emitter laser diodes.
Agranat execs say EmWeb offers "a highly efficient, fully scalable server and the only compiled environment available," as well as "guaranteed interoperability and two-way security with the latest Web standards.
These highly efficient, durable and attractive fixtures are being used to replace inefficient, incumbent lighting technologies.
an innovative manufacturer of highly efficient and reliable high-power diode lasers, announced today the availability of a 6-watt fiber-coupled 976 nm multimode laser diode.
1 micro Amp, these integrated devices are highly efficient and offer reliable protection.

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