Compare this to persuasive evidence that Bryan Caplan brings to The Myth of the Rational Voter that people in general have a systematic anti-market bias.
FORBES: A Capitalism for the People
In a rational world there would be no such thing as a nondiversified money market account.
FORBES: Trust Me
"The evidence does suggest that the market is not rational, " says Meir Statman, a finance professor at Santa Clara University in California.
WSJ: Intelligent Investor: Don't Bet the House on Efficient-Market Model
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