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State-of-the-Art Lecture Series Presents Michael Goldberg April 26

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Michael D. Goldberg will present the lecture, “The Sterile Debate about the Rationality of Financial Markets” Thursday, April 26 from 4:30 to 6:30 p.m. in the Squamscott Room, Holloway Commons. The talk begins with a reception and concludes with a question and answer session.

For more than four decades, most professional economists have subscribed to the view that markets are rational, set asset prices and allocate financial capital nearly perfectly, and require only a narrowly delimited role for the state. In the wake of the global financial crisis that began in 2007, faith in this conventional “rational-markets” view has lost ground to a new faith in a “behavioral-finance” view, that financial markets are irrational, set prices and allocate capital haphazardly, and compel an extremely powerful role for the state.

Do financial markets really set prices and allocate society’s scarce capital either nearly perfectly or haphazardly? Why do conventional and behavioral economists hold such extreme views of financial markets? How can we move beyond these views and gain a better understanding of what financial markets do and how to regulate them?

The State-of-the-Art Lecture Series is designed to share exciting and current developments in a variety of fields with the UNH community. Sponsored by the Office of the Provost, The Humanities Program and The UNH Faculty Senate.