|
Based on your IP address, your paper is being delivered by:
|
 |
 |
 |
 |
 |
New York, USA
Processing request.
|
Illinois, USA
Processing request.
|
Brussels, Belgium
Processing request.
|
Seoul, Korea
Processing request.
|
California, USA
Processing request.
|
If you have any problems downloading this paper,
please click on another Download Location above, or
File name: nber. ; Size: 203K
|
|
Learning in Financial Markets
Lubos Pastor
University of Chicago - Booth School of Business; Centre for Economic Policy Research (CEPR); National Bureau of Economic Research (NBER)
Pietro Veronesi
University of Chicago - Booth School of Business; Centre for Economic Policy Research (CEPR); National Bureau of Economic Research (NBER)
January 2009
NBER Working Paper No. w14646
Abstract:
We survey the recent literature on learning in financial markets. Our main theme is that many financial market phenomena that appear puzzling at first sight are easier to understand once we recognize that parameters in financial models are uncertain and subject to learning. We discuss phenomena related to the volatility and predictability of asset returns, stock price bubbles, portfolio choice, mutual fund flows, trading volume, and firm profitability, among others.
Number of Pages in PDF File: 30
working papers series
Download This Paper
Date posted: January 19, 2009
Suggested CitationPastor, Lubos and Veronesi, Pietro, Learning in Financial Markets (January 2009). NBER Working Paper No. w14646. Available at SSRN: http://ssrn.com/abstract=1329264
|
| Feedback to SSRN (Beta) |
|
|
Paper statistics
Download Rank:
|
1,290
|
|
|
|
|
