Asparouhova, Elena; Hertzel, Michael; Lemmon, Michael - In: Management Science 55 (2009) 11, pp. 1766-1782
Using data generated from laboratory experiments, we test and compare the empirical accuracy of two models that focus on judgment errors associated with processing information from random sequences. We test for regime-shifting beliefs of the type theorized in Barberis et al. (Barberis, N., A....