Why Those Guys Won the Economics Nobels
Harvard Business Review
APRIL 2, 2014
Back in the ‘60s, people developed the capital asset pricing model [CAPM] as a way to do that. That’s still widely taught in business-school classes and it’s easy for people to understand. [A And the theory that was available then was CAPM. But there are these two classes of explanations for why it didn’t work.
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