The Behavior of Stock-Market Prices (The Journal of Business: The Graduate School of Business of the University of Chicago January 1965).

FAMA, Eugene F.

$15,000.00

Item Number: 57033

Chicago: The University of Chicago Press, 1965.

Original paper of the landmark work of Nobel Prize-winning economist Eugene Fama’s The Behavior of Stock Market Prices. Octavo, in the original wrappers which are bound in full morocco with gilt titles and tooling to the spine, triple gilt ruling to the front and rear panels, inner dentelles, raised bands, marbled endpapers, and all edges gilt. Boldly signed by Eugene F. Fama on the first page of his contribution: The Behavior of Stock Market Prices. In near fine condition. Rare.

Eugene Fama is widely recognized as the "father of modern finance" particularity for his groundbreaking Ph.D. thesis on the efficient-market hypothesis. The thesis, which concluded that stock price movements are unpredictable and follow a random walk, was published in the January, 1965 issue of the Journal of Business, entitled "The Behavior of Stock Market Prices." Fama was awarded the 2013 Nobel Prize in Economics.