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Philip Maymin, "Markets are efficient if and only if P=NP"
https://arxiv.org/abs/1002.2284
this seems like it's a hell of a paper
@KitRedgrave I love this paper. Because if P=NP then the resource allocation problem is in principle solvable by a central planner a la #RedPlenty
so either the weak efficiency hypothesis is false and market failure is baked in or else the Hayek argument for the superiority of markets is wrong
It's beautiful
@chi505 or the paper is flawed in a way that isn't apparent to us, because afaik it wasn't peer reviewed
@KitRedgrave I mean yeah it's the arXiv it's about as baseline credible as Medium but the approach is cute regardless