O'Reilly logo

The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street by Justin Fox

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 16: Gene Fama and Dick Thaler Knock Each Other Out

Where has the debate over market rationality ended up? In something more than a draw and less than a resounding victory.

Every year, students at what since 2008 has been called the University of Chicago Booth School of Business—like their counterparts at just about every top business school and law school in the country—put on a humorous musical revue called the Follies.

Among the acts at the 2002 Chicago Business School show was a mock musical boxing match featuring students playing the parts of professors Gene Fama and Dick Thaler. The Fama portrayer, who had been lifting weights for weeks to resemble the athletic scholar more closely, sang “Efficient” to the tune of “Tradition,” ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required