I don’t think the efficient market hypothesis is universally accepted among economists.
So, there’s a continuum of EMHs from the strong-but-probably-false “markets react instantly to information” to the weak-but-more-plausible “markets on average tend to react to publicly available information, perhaps after some lag.”
As that suggests, more economists accept the weaker forms than the stronger forms.
So, there’s a continuum of EMHs from the strong-but-probably-false “markets react instantly to information” to the weak-but-more-plausible “markets on average tend to react to publicly available information, perhaps after some lag.”
As that suggests, more economists accept the weaker forms than the stronger forms.