I’m teaching finance this quarter. Thumbing through the textbook section on “anomalies” and behavior finance I see cites to lots of papers by these three guys.
These three are my guess for the Nobel. If I didn’t misread the “depression” contract on intrade (I didn’t catch that they summed annualized quarterly numbers to define a depression), I’d have money in that account to bet on these guys.
BTW, I can’t believe Barro hasn’t won.
UPDATE: Cheerleading for EMH. Cochrane’s introduction to Fama gives an argument for why these three folks deserve the prize.