Nobel laureate economist best known for empirical work on portfolio theory, asset pricing and the efficient-market hypothesis.
University of Chicago Booth School of Business
Faculty research page, Chicago Booth
The efficient-markets framework and the Fama-French factor models are the primary sources on which most modern empirical asset pricing is built.
3 books of their own · 64 articles
Eugene Fama's key papers on efficient markets and asset pricing, with commentary.
The Theory of Finance | – | 1972 | T4 | – |
Foundations of Finance | – | 1976 | T4 | – |
The Fama Portfolio: Selected Papers of Eugene F. Fama | Eugene Fama's key papers on efficient markets and asset pricing, with commentary. | 2017 | T4 | – |
| Production of U.S. Rm-Rf, SMB, and HML in the Fama-French Data Library | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2023 |
| A Look Back at Modern Finance: Accomplishments and Limitations | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2023 |
| Regional Prosperity and Its Spillovers | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2023 |
| Stimulus and the Permanent Income Hypothesis | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2021 |
| The Value Premium | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2020 |
| House Prices and Rents | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2020 |
| Contract Costs, Stakeholder Capitalism, and ESG | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2020 |
| Taxes | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2020 |
| Business Income Taxes | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2020 |
| Wealth Taxes | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2019 |
| Property Taxes | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2019 |
| Taxes: A Simple Scheme | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2019 |
| Government and Nonprofits | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2019 |
| Comparing Cross-Section and Time-Series Factor Models | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2018 |
| Interest Rates and Inflation Revisited | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2018 |
| Volatility Lessons | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2017 |
| Long-Horizon Returns | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2017 |
| Choosing Factors | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2015 |
| International Tests of a Five-Factor Asset Pricing Model | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2015 |
| Cross-Section Versus Time-Series Tests of Asset Pricing Models | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2015 |
| Multifactor Portfolio Efficiency and Multifactor Asset Pricing | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2015 |
| Dissecting Anomalies with a Five-Factor Model | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2014 |
| Incremental Variables and the Investment Opportunity Set | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2014 |
| Two Pillars of Asset Pricing (Nobel Prize lecture) | The Nobel Foundation | Article | 2013 |
| A Five-Factor Asset Pricing Model | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2013 |
| Does the Fed Control Interest Rates? | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2012 |
| Was There Ever a Lending Channel? | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2012 |
| Size, Value, and Momentum in International Stock Returns | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2010 |
| My Life in Finance | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2010 |
| Luck Versus Skill in the Cross Section of Mutual Fund Returns | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2009 |
| Capital Structure Choices | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2008 |
| The Profitability and Equity Financing of Style Groups: 1906-2006 | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2008 |
| Average Returns, B/M, and Share Issues | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2007 |
| Dissecting Anomalies | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2006 |
| Migration | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2006 |
| The Value Premium and the CAPM | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2005 |
| The Anatomy of Value and Growth Stock Returns | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2005 |
| Disagreement, Tastes, and Asset Prices | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2005 |
| Profitability, Growth, and Average Returns | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2004 |
| The Behavior of Interest Rates | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2004 |
| The Capital Asset Pricing Model: Theory and Evidence | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2003 |
| Financing Decisions: Who Issues Stock? | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2003 |
| New Lists: Fundamentals and Survival Rates | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2003 |
| Editorial: Clinical Papers and Their Role in the Development of Financial Economics | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2003 |
| The Equity Premium | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2000 |
| Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay? | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2000 |
| Organizational Forms and Investment Decisions | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2000 |
| Size and Book to Market Factors in Earnings and Returns | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 2000 |
| Testing Tradeoff and Pecking Order Predictions About Dividends and Debt | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1999 |
| Separation of Ownership and Control | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1998 |
| Agency Problems and Residual Claims | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1998 |
| Characteristics, Covariances, and Average Returns: 1929-1997 | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1998 |
| The Corporate Cost of Capital and the Return on Corporate Investment | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1998 |
| Multifactor Explanations of Asset Pricing Anomalies | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1998 |
| Market Efficiency, Long-Term Returns, and Behavioral Finance | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1997 |
| Value Versus Growth: The International Evidence | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1997 |
| Taxes, Financing Decisions, and Firm Value | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1997 |
| Forecasting Profitability and Earnings | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1997 |
| Determining the Number of Priced State Variables in the ICAPM | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1997 |
| Investment Decisions, Financing Decisions, and Firm Value | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1997 |
| Discounting Under Uncertainty | SSRN / Journal of Finance / Journal of Financial Economics | Research paper | 1996 |
| Common Risk Factors in the Returns on Stocks and Bonds | Journal of Financial Economics (with Kenneth R. French) | Research paper | 1993 |
| Efficient Capital Markets: A Review of Theory and Empirical Work | Journal of Finance | Research paper | 1970 |
| Random Walks in Stock-Market Prices | Financial Analysts Journal | Research paper | 1965 |
| Eugene Fama, King of Predictable Markets Paywall | The New York Times | 2013 |
| Interview with Eugene Fama Paywall | The New Yorker | 2010 |