Ep. 667: Timur Kuran Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Role of Professors in Preference Falsification
I would think that that also plays a role. If you're a student in a classroom and your professor is, oh gosh, I'll just pick your professor as Eugene Fama or Richard Thaler, some huge name that's won a Nobel Prize. You, Mr. Student out there in the audience, 19 years of age, who wants to raise their hand? My advisor, Kenneth Arrow, who already had, when he was as advisor, he already had a Nobel prize. After I graduated and I started working on preference falsification, he encouraged me to work on this. He saw that I was getting somewhere and that there was something fundamentally wrong with the concept of a real preference
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