It is no secret that two of the three winners of this year's Nobel economics prize disagree – after all, they are economists. But Robert Shiller has taken the tiff with Eugene Fama over the efficiency of markets to a new level. Highlighting what he sees as a mismatch between Fama's findings and his theories, he suggested his fellow laureate must feel like a Catholic priest who has discovered God does not exist. While Shiller holds that investors, being human, can be swayed by psychology, Fama contends markets are always efficient, with people incorporating all available information into prices. To mark their ... (full story)