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Biotech / Medical : Biotech Valuation
CRSP 56.68-2.4%Dec 12 9:30 AM EST
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To: Biomaven who wrote (9230)9/30/2003 5:25:54 PM
From: Biomaven   of 52153
 
Reading further, in fact the article at the end specifically contradicts the "zero-intelligence" blurb:

Although in this paper we are stressing the fact
that we can make a useful theory out of zero-
intelligence agents, we are certainly not trying to
claim that intelligence doesn?t play an important
role in what financial agents do. Indeed, one of the
virtues of this model is that it provides a benchmark
to separate properties that are driven by the statis-
tical mechanics of the market institution from those
that are driven by conditional intelligent behavior.

Peter
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