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"This book, whose rousing style drew me in immediately, is remarkable in how well it is able honestly to convey the core of modern finance theory and then to go on to criticize it fairly."--Thomas Sargent, Stanford University, Hoover Institution
"An important and timely book, The Paradox of Asset Pricing offers a fresh look at what the efficient markets hypothesis really implies. Summarizing forty years of asset pricing tests, it compels researchers to think deeply about what they are doing."--Bernt Arne Odegaard, Norwegian School of Management, Central Bank of Norway
Review Quotes: "This book, whose rousing style drew me in immediately, is remarkable in how well it is able honestly to convey the core of modern finance theory and then to go on to criticize it fairly."--Thomas Sargent, Stanford University, Hoover Institution