from http://ftalphaville.ft.com/blog/2010/10/08/364271/gaming-the-nobel-economics-prize/ : The Nobel Memorial Prize in Economic Sciences is to be announced next Monday, and currently — according to the New Zealand-based prediction website iPredict at least — Richard Thaler of the Chicago Booth faculty is seen as the most likely economist to win. Thaler is, of course, best known for his theories in behavioral finance and above all the concept of a ‘winner’s curse‘. In a recent FT opinion piece, for example, he argued that prices may not always be right at all. An argument which also happens to be echoed by another prospective Nobel prize winner Robert Shiller (currently No.3 in the betting stakes). (see link for more)
^ Finally, we are talking sense!
excerpt… Taleb Says Investors Should Sue Nobel Panel for Losses (Update1) 2010-10-08 18:56:57.347 GMT By Stephanie Baker Oct. 8 (Bloomberg) – Nassim Nicholas Taleb, author of “The Black Swan,” said investors who lost money in the financial crisis should sue the Swedish Central Bank for awarding the Nobel Prize to economists whose theories he said brought down the global economy. . . . Taleb singled out the Nobel award to Harry Markowitz, Merton Miller and William Sharpe in 1990 for their work on portfolio theory and asset-pricing models.
DarienHacker Wrote: ------------------------------------------------------- > excerpt… > > Taleb Says Investors Should Sue Nobel Panel for > Losses (Update1) > 2010-10-08 18:56:57.347 GMT > > By Stephanie Baker > Oct. 8 (Bloomberg) – Nassim Nicholas Taleb, > author of > “The Black Swan,” said investors who lost money in > the > financial crisis should sue the Swedish Central > Bank for > awarding the Nobel Prize to economists whose > theories he said > brought down the global economy. > . . . > Taleb singled out the Nobel award to Harry > Markowitz, > Merton Miller and William Sharpe in 1990 for their > work on > portfolio theory and asset-pricing models. Silly.
i’m not so sure - these nobel guys are very, very, very liberal. they’d give an award to the invisible man if they could. its like awarding an abstract artist for painting what you can’t see. think about that for a sec.
Say it with me again… Nobels in hard sciences are amazing achievements. Nobels in peace or economics are nonsense.
DarienHacker Wrote: ------------------------------------------------------- > excerpt… > > Taleb Says Investors Should Sue Nobel Panel for > Losses (Update1) > 2010-10-08 18:56:57.347 GMT > > By Stephanie Baker > Oct. 8 (Bloomberg) – Nassim Nicholas Taleb, > author of > “The Black Swan,” said investors who lost money in > the > financial crisis should sue the Swedish Central > Bank for > awarding the Nobel Prize to economists whose > theories he said > brought down the global economy. > . . . > Taleb singled out the Nobel award to Harry > Markowitz, > Merton Miller and William Sharpe in 1990 for their > work on > portfolio theory and asset-pricing models. Hahaha!