Why Those Guys Won the Economics Nobels
Harvard Business Review
APRIL 2, 2014
The prizes were awarded “for their empirical analysis of asset prices,” but what the three had been doing looked from the outside less like a common endeavor than a not-all-that-coherent argument. Back in the ‘60s, people developed the capital asset pricing model [CAPM] as a way to do that. That’s kind of a deep insight.
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