Why Those Guys Won the Economics Nobels
Harvard Business Review
APRIL 2, 2014
Shiller hammered away on this point in the ‘80s, and in fact Fama also published some of the same observations. He draws on an engineering literature called robust optimal control. Suppose you’re an engineer and you’re building a bridge. So what you might do as an engineer is try to build your bridge to be safe in a worst case.
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