Profs. Philippon and Savov's research on efficiency in financial markets is highlighted
September 08, 2013
Excerpt from Business Insider -- "More information is not necessarily better information. That's the conclusion from an October 2012 New York Federal Reserve study flagged Sunday by Chris Dixon. In 'Have Financial Markets Become More Informative?', Jennie Bai, Thomas Philippon, and Alexi Savov argue that over the past 50 years, markets have not grown more efficient about how to allocate capital, at least via stocks."