Why Those Guys Won the Economics Nobels
Harvard Business Review
APRIL 2, 2014
And that’s what these guys [the 2013 Nobel winners] did. It feels like it’s got a little bit of Kahneman and Tversky in it. Instead what he says is let’s have financial innovation that is actually helpful. The capital asset pricing model was supposed to allow companies to calculate their cost of capital in a consistent way.
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