What the Great Fama-Shiller Debate Has Taught Us
Harvard Business Review
OCTOBER 14, 2013
It’s also possible that Hansen just got the prize because his work is so great and/or has spawned lots of productive further research, but I’m really in not in a position to judge that — his stuff is really dense. But it’s just as valid to hold on to CAPM and label these effects market inefficiencies.
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