This Thursday, the 4th of May, at 16.30 Christopher Summer will speak about INFORMATIONAL EFFICIENCY OF SECURITY PRICES =========================================== CONDITIONAL EXPECTATION AND MARTINGALE, EFFICIENT MARKETS UNDER RISK NEUTRALITY, EFFICIENT MARKETS WITH RISK AVERSION (M. Magill and M. Quinzii, 'Theory of Incomplete Markets') in the Seminarraum 107, 6th floor, green area (TU Wien Freihaus). Further details can be found at http://www.fam.tuwien.ac.at/~gaier/seminar ! ------------------------------------------