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It has been about 13 years since Andrew Lo published The Adaptive Markets Hypothesis. It provides valid criticism to Efficient Markets Hypothesis and brings lots of innovation over it. Unfortunately, it is but a framework of what it would be. What I am asking is; are there any significant models/theorems which employ AMH at its core?

p.s. I should add that I am working on financial models that might be uneasy with the collosal EMH. Many other studies either try to adhere to or completely ignore it.

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    $\begingroup$ Was the AMH actually falsifiable in any way? Or was it just a useful mental model to help think about things? $\endgroup$
    – Thomas Johnson
    Sep 8, 2017 at 17:22
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    $\begingroup$ AMH is quite new. Let alone falsifiability there is little or no substance to work on yet. According to Lo it is like EMH. EMH is not falsifiable by the way due to joint hypothesis problem. $\endgroup$
    – berkorbay
    Sep 11, 2017 at 6:46

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