Please find the article online Ross, Stephen.'Neoclassical Finance, Alternative Finance and the Closed End Fund Puzzle.' European Financial
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Please find the article online

Ross, Stephen. "Neoclassical Finance, Alternative Finance and the Closed End Fund Puzzle." European Financial Management. Vol. 8, No. 2, 129-137.


  1. According to Ross, does the existence of efficient markets mean that there are no profitable arbitrage or trading opportunities?
  2.  What is the "closed-end fund puzzle"?


  1. What is Ross's solution to the closed-end fund puzzle? (Note: You don't need to show the math. Just explain the intuition.)

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