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JackFr
81 days ago
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The paradoxical efficient market hypothesis (2024)
> they both find trades entertaining or have a cultural preference for doing business with each other
That is value. It is any benefit they capture which they would not otherwise.
AnthonyMouse
79 days ago
[–]
That's value from doing any transaction, not value from the thing you bought. They'd get the same value if they were trading seashells or shiny rocks.
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That is value. It is any benefit they capture which they would not otherwise.