- 2022
[My paper on a microstructural interpretation of Gabaix & Koijen’s Inelastic Market Hypothesis came out last week](https://www.linkedin.com/posts/jean-philippe-bouchaud-bb08a15_the-inelastic-market-hypothesis-a-microstructural-activity-6937445204178178048-xPbP?utm_source=linkedin_share&utm_medium=member_desktop_web)
## [Why do prices move? Whereas Fama argues that markets are efficient and prices faithfully reflect fundamental values, Shiller insists on the role of behavioural biases as a source of excess volatility and price anomalies](https://www.linkedin.com/posts/jean-philippe-bouchaud-bb08a15_why-do-markets-crash-bitcoin-data-offers-activity-6922158164142419968-lXRx?utm_source=linkedin_share&utm_medium=member_desktop_web)
https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0139356&type=printable
