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Stock Price Expectations and Stock Trading
Hurd, Michael D.; Rohwedder, Susann - National Bureau of Economic Research (NBER) - 2012
subjective probability for one-year and 10-year gains in stock prices correlated with the Standard and Poor 500 Index with lags …
Persistent link: https://www.econbiz.de/10011227946
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Private Sunspots and Idiosyncratic Investor Sentiment
Angeletos, George-Marios - National Bureau of Economic Research (NBER) - 2008
This paper shows how rational investors can have different degrees of optimism regarding the prospects of the economy, even if they share exactly the same information regarding all economic fundamentals. The key is that heterogeneity in expectations regarding endogenous outcomes can emerge as a...
Persistent link: https://www.econbiz.de/10005580446
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Does Everyone Use Probabilities? Intuitive and Rational Decisions about Stockholding
Binswanger, Johannes; Salm, Martin - Institute for the Study of Labor (IZA) - 2013
We investigate the relationship between subjective probabilities of future stock market returns and decisions about stockholding. Specifically, we examine whether acting upon subjective probabilities is confined to individuals with high cognitive skills. We explore this question using data from...
Persistent link: https://www.econbiz.de/10010631344
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Salience and Asset Prices
Shleifer, Andrei; Bordalo, Pedro; Gennaioli, Nicola - National Bureau of Economic Research (NBER) - 2013
several puzzles in finance in an intuitive way, including preference for assets with a chance of very high payoffs, an …
Persistent link: https://www.econbiz.de/10010821696
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Stock Market Expectations of Dutch Households
Hurd, Michael D.; Winter, Joachim; Rooij, Maarten van - National Bureau of Economic Research (NBER) - 2010
Despite its importance for the analysis of life-cycle behavior, stock ownership by households is poorly understood. Among other approaches to the investigation of this puzzle, recent research has elicited the expectations of stock market returns by individuals. This paper reports findings from a...
Persistent link: https://www.econbiz.de/10008683277
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Better Means More: Property Rights and High-Growth Aspiration Entrepreneurship
Estrin, Saul; Korosteleva, Julia; Mickiewicz, Tomasz - Institute for the Study of Labor (IZA) - 2009
entrepreneurship, but has less pronounced effects for entrepreneurial entry. The availability of finance and the fiscal burden matter …
Persistent link: https://www.econbiz.de/10005015496
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Deposit Insurance Without Commitment: Wall St. Versus Main St
Cooper, Russell; Kempf, Hubert - National Bureau of Economic Research (NBER) - 2011
in their tax obligations to finance the deposit insurance. Deposit insurance will not be provided ex post if it requires …
Persistent link: https://www.econbiz.de/10008804669
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Performance analysis of international mutual funds incorporating market frictions
ter Horst, Jenke; Nijman, Theo; de Roon, F.A. - Tilburg University, Center for Economic Research - 1998
Persistent link: https://www.econbiz.de/10011090489
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Decision Making in the Pension Fund Board Room : An Experiment with Dutch Pension Fund Trustees
van Dalen, H.P.; Henkens, K.; Koedijk, C.G.; Slager, A.M.H. - Tilburg University, Center for Economic Research - 2010
We ask how pension fund trustees deal with the booms and busts that funds encounter, and to what extent the decisions of pension fund trustees are affected by behavioral biases. We examine these issues by using a vignette-method field experiment among Dutch pension fund trustees. We find that...
Persistent link: https://www.econbiz.de/10011092529
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Finance and Growth for Microenterprises : Evidence from Rural China
Beck, Thorsten; Lu, L.; Yang, R. - Tilburg University, Center for Economic Research - 2013
Abstract: Using a survey dataset of Chinese rural households, we find that access to external finance is positively … associated with the decision to become entrepreneur, the initial investment for microenterprises and the use of external finance …. Also, we find that the use of informal finance is positively associated with sales growth of microenterprises with …
Persistent link: https://www.econbiz.de/10011092482