← Map
📜 SIDE QUEST · DEEP DIVE
· ◆◆◆ · ~10 min
Fama vs Shiller
Fama vs Shiller
"In 2013 the Nobel committee handed the same prize to the father of efficient markets and to his fiercest behavioral critic. A deep dive into the great debate — and why both were right."
the 2013 Nobel paradoxFama's efficient marketsthe joint hypothesis problemShiller's excess volatility & predictabilityreconciliation & humility
A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.