Two volumes present the most influential articles surrounding the efficient markets hypothesis debate, from Paul Samuelson's proof that properly anticipated prices fluctuate randomly to Fischer Black's study of noise traders, and from Eugene Fama's empirical implementation of the efficient markets hypothesis to Robert Merton's analysis of stock price volatility. Volume one contains 20 articles divided into two sections: theoretical foundations and the random walk hypothesis. Volume two contains 29 articles in three sections: variance bounds tests, overreaction and underreaction, and anomalies. Papers originally appeared in books and journals published between 1959 and 1993. No index. Annotation c. by Book News, Inc., Portland, Or.