<< O Brother O Where Art Thou is not based on The Oddysey. THat was just a joke. Neither of the Coen brothers even read the Odyssey, they just felt like putting that in there.
Source: Roger Ebert, Chicago Sun Times. >>
This is inaccurate, though it is true that they never read the epic poem. Ebert said:
The opening titles inform us that the Coen Brothers' "O Brother, Where Art Thou?" is based on Homer's The Odyssey. The Coens claimed their "Fargo" was based on a true story, but later confided it wasn't; this time they confess they haven't actually read The Odyssey. Still, they've absorbed the spirit. Like its inspiration, this movie is one darn thing after another.