In the news
Why markets are inefficient and what can be done about it? (pdf)
Financial Times, 9 March 2014
Markets are not perfectly efficient. More or less everyone agrees to this in the wake of the financial crisis. So why are markets inefficient, and what can be done about it? The most popular answer is to blame human nature. Paul Woolley (Founder of the Paul Woolley Centre) however thinks he is on his way to a new answer. On his reading, the problem is lodged in the division between principals and agents. Read more (pdf).