RT @Undercoverhist: MIT and the Origins of the Modern Theory of Asset Pricing by Roger E. Backhouse https://t.co/YgfZTSqEYE
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RT @Undercoverhist: MIT and the Origins of the Modern Theory of Asset Pricing by Roger E. Backhouse https://t.co/YgfZTSqEYE
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Beautiful paper. Wiener was there and played an indirect role. The genius? Use options and the underlying to build a risk-free security. The math? Foreign to most economists at the time.
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RT @Undercoverhist: MIT and the Origins of the Modern Theory of Asset Pricing by Roger E. Backhouse https://t.co/YgfZTSqEYE