Alfarano, S.; Milakovic, M.; Raddant, M. - In: The European Journal of Finance 19 (2013) 6, pp. 449-465
From a statistical point of view, the prevalence of non-Gaussian distributions in financial returns and their volatilities shows that the Central Limit Theorem (CLT) often does not apply in financial markets. In this article, we take the position that the independence assumption of the CLT is...
