Efficient-market hypothesis and behavioral finance not at odds: Market behavior efficiency prevails.
The article discusses how behavioral finance and the efficient-market hypothesis are not necessarily in conflict. By taking a moderate approach, the researchers found that both concepts play a role in influencing stock market prices. They identified three main factors that affect market prices: the cost of producing assets, investors' reactions to news about the assets, and investors' mistakes in decision-making. Understanding these factors can help investors and officials make better decisions and develop effective investment strategies.