What Fama and Shiller Didn't Teach Us About Finance
Shiller, by contrast, focused on the ways that fear and greed can lead to the mispricing of financial assets. He correctly warned that U.S. equities were expensive in the late 1990s, and that U.S. house prices were overvalued in the early to mid-2000s.
Nobel Prize in Economics Seen as Contradictory, Counterintuitive
Nobel-winning Yale professor Robert Shiller says finance often 'misunderstood'
Shiller wins Nobel Prize