Fair – an implicit assumption of my post is that markets are efficient. If you don’t think so, then what I had to say is probably not very relevant.
I assume you’re not arguing for the strong EMH here (markets are maximally efficient), so the difference to me seems to be a difference of degree than kind (you think hiring markets are more efficient than Peter does, Peter thinks hiring markets are less efficient than you do.)
If you are arguing for the strong version of EMH here I’d be curious as to your reasoning, as I can’t think of any credible economists who think that real world markets don’t have any inefficiencies.
If you’re arguing for a weaker version, I think it’s worth digging in to cruxes… Why do you think that the hiring market is more efficient than Peter does?
I assume you’re not arguing for the strong EMH here (markets are maximally efficient), so the difference to me seems to be a difference of degree than kind (you think hiring markets are more efficient than Peter does, Peter thinks hiring markets are less efficient than you do.)
If you are arguing for the strong version of EMH here I’d be curious as to your reasoning, as I can’t think of any credible economists who think that real world markets don’t have any inefficiencies.
If you’re arguing for a weaker version, I think it’s worth digging in to cruxes… Why do you think that the hiring market is more efficient than Peter does?