One of the tenets of rational expectations is that the expectation of a future event can move markets now.

Superfreakonomics is not even out yet.  But a couple of pages from one chapter related to global warming have found their way onto the internet (perhaps a whole chapter was posted earlier?).  And they’ve created a little warming for Levitt at the hands or blogs of Brad DeLong and Paul Krugman.

It’s hard to really make head or tail of it without reading it or seeing a real review.  Tim Hartford has one and interestingly even he is skeptical of the global warming chapter.  Well, I’ve put in my pre-order at Amazon and look forward to writing about Superfreakonomics.