Bibliographic record
Abstract
In behavioral finance, the efficiency of markets is questioned due to potential influences of irrational human behavior. This paper investigates how these behaviors conflict with traditional finance theories and summarizes prominent behavioral traits. While there are many more non-rational human foibles than covered in this paper, this paper has presented just three behaviors that are viewed as non-rational. Those that have been presented are sufficient to cast doubt on the validity of our traditional views of finance and financial models. It is unclear at this time whether markets are completely efficient, only partially, or completely inefficient. It is important to ascertain the extent to which markets reflect efficient prices or not. Furthermore, it is possible that markets are generally, but not always, efficient, as many argue. The answer to this conundrum will profoundly affect the extent to which we accept or reject the traditional valuation models.
Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.
How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.020 | 0.056 |
| Meta-epidemiology (narrow) | 0.001 | 0.000 |
| Meta-epidemiology (broad) | 0.002 | 0.001 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.003 | 0.021 |
| Scholarly communication | 0.006 | 0.013 |
| Open science | 0.003 | 0.004 |
| Research integrity | 0.007 | 0.013 |
| Insufficient payload (model declined to judge) | 0.008 | 0.002 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".