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A research team told one group of people that they would hear a set of jokes that were very funny and a second group that they would hear jokes that were not very funny. A third group was not told anything about the jokes. The jokes in all conditions were the same. Research with this design is:
Market Efficiency
An idea in financial economics stating that the prices of assets completely incorporate all existing information.
Market Efficiency
A concept in financial economics that states that asset prices fully reflect all available information, making it impossible to consistently achieve higher returns than the overall market.
Capital Market History
The study of the evolution and development of financial markets, instruments, and institutions over time.
Treasury Bills
Short-term government securities with maturities of one year or less, sold at a discount to their face value.
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