Define an Efficient Market

question 34

Essay

Define an efficient market.

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Definitions:

Conditioned Stimulus

A neutral stimulus that, once it becomes linked with an unconditioned stimulus, ultimately leads to eliciting a conditioned response.

Unconditioned Stimulus

A stimulus that innately prompts a reaction without the necessity for prior conditioning.

Stimulus Generalization

The process by which conditioned responses are triggered by stimuli that are similar, but not identical, to the original conditioned stimulus.

Reinforcer

A stimulus or event that increases the probability of the repeated occurrence of a behavior that it follows, often used in the context of operant conditioning.