As stock markets around the globe continue to gyrate, traders, brokers and investors are not the only ones trying to second-guess the next price movements. Finance professors are also looking to fathom the current and future state of play.

For years, many adhered to the efficient stock market theory whereby prices are set by rational traders and stocks are always valued upon genuine information circulating in the market about future earnings. However, the recent spate of volatility, triggered by the technology, media and telecom craze, is challenging both conventional wisdom as well as traditional economic models.