From a Paul Krugman blog post about a new model he’s working on:
In his new book The Myth of the Rational Market Justin Fox traces the lineage of the noise-trade assumption to an unpublished paper by Larry Summers that began, THERE ARE IDIOTS.
James O. Freedman Presidential Professor of Government
Dartmouth College
From a Paul Krugman blog post about a new model he’s working on:
In his new book The Myth of the Rational Market Justin Fox traces the lineage of the noise-trade assumption to an unpublished paper by Larry Summers that began, THERE ARE IDIOTS.