Are markets efficient? Let the two Nobel Economics Laureates debate!

Two Nobel laureates in economics from University of Chicago, Eugene Fama (2013) and Richard Thaler (2017) debate the efficient market hypothesis. This debate is required viewing for anyone with even a remote interest in finance!  (spoiler alert – virtually all derivatives pricing models covered in Finance 4366 assume that the underlying asset follows a random walk, which corresponds to the so-called “weak form” of Fama’s efficient market hypothesis)…

Eugene F. Fama and Richard H. Thaler discuss whether markets are prone to bubbles.

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