The Grossman - Stiglitz Paradox (feat. The Plain Bagel)

The Grossman-Stiglitz Paradox stems from a 1980 paper by Sanford Grossman and Joseph Stiglitz. They argue that markets cannot possibly be perfectly informationally efficient because if they were, nobody would expend the resources required to make markets efficient. Richard Coffin aka The Plain Bagel and I dig into what that means. Check out Richard's channel here: http://bit.ly/2T1AhHj

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