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Can the Market Be Outwitted?

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Science  26 Feb 1999:
Vol. 283, Issue 5406, pp. 1245
DOI: 10.1126/science.283.5406.1245

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Arbitrage traders say the marketplace is filled with tiny anomalies that can be exploited for hefty profits. Some economists say that the market is too efficient for that to be a viable strategy. But a growing number of economists have started to think about the market as something other than a well-lubricated machine.