Rival Economists Share Nobel—Bubbles, Anyone?

The winners of the 2013 Nobel Prize in Economic Sciences are announced at the Royal Swedish Academy of Sciences in Stockholm on Oct. 14 Photograph by TT/Claudio Bresciani/AP Photo

Robert Shiller, author of Irrational Exuberance, is one of the world’s leading expositors of the theory that financial markets are prone to bubbles. Eugene Fama says he doesn’t even know what bubbles are.

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