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. It feels like it’s got a little bit of Kahneman and Tversky in it. It seems like the clearest practical lessons from this academic work have been in asset management. He didn’t want a behavioral explanation.
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