Two Paradigms and Nobel Prizes in Economics: A Contradiction or Coexistence?
Research, Article, Preprint
De Giorgi, Enrico
- Publisher: Wiley
Institute for Empirical Research in Economics (former) | Department of Economics | 330 Economics | Department of Banking and Finance | Capital Asset Pricing Model, Prospect Theory
Markowitz and Sharpe won the Nobel Prize in Economics more than a decade ago for the development of Mean-Variance analysis and the Capital Asset Pricing Model (CAPM). In the year 2002, Kahneman won the Nobel Prize in Economics for the development of Prospect Theory. Can...