GIBSON, George Rutledge.
The Stock Exchanges of London, Paris, and New York
The Stock Exchanges of London, Paris, and New York
a comparison.
Stock Code 125035
New York & London, G.P. Putnam's Sons, The Knickerbocker Press, 1889.
the efficient market hypothesis
The first edition of this important work on the operation of the stock markets in London, Paris and New York, which contains the earliest known statement of the efficient market hypothesis, that when shares 'become publicly known in an open market, the value they there acquire may be regarded as the judgement of the best intelligence concerning them' (p.11).Scarce. There has been some confusion as to whether the date of this work should be recorded as '1889' (taken from the imprint on the title-page) or '1888' (from the copyright to the title verso), with OCLC currently recording 9 institutional copies which use the 1888 date (see accession number 7680090).
First edition; 8vo (20 x 14.5 cm); copyright dated '1888' to title verso, photographic frontispiece and 6 plates, dated ownership inscription in pen to fly-leaf, light toning; publisher's maroon cloth, spine lettered in gilt, very good; v, [3], 125, [1]pp.
Dennistoun 457.
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