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Dynamic Trading When You May Be Wrong
Remorov, Alexander - Volkswirtschaftliche Fakultät, … - 2015
I analyze a model with heterogeneous investors who have incorrect beliefs about fundamentals. Investors think that they are right at first, but over time realize that they are wrong. The speed of the realization depends on investor confidence in own beliefs and arrival of new information. The...
Persistent link: https://www.econbiz.de/10011267843
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Technical change in Developing Countries: A dynamic model of adoption, learning and industry evolution
Raies, asma - Volkswirtschaftliche Fakultät, … - 2005
This paper develops and analyses a dynamic model, which combines both the adoption and the industry evolution theories …. We model the decision of adoption, learning entry and exit of firms. These decisions depend on the interaction of …. The model we suggest also analyses effects on industry evolution and social welfare. …
Persistent link: https://www.econbiz.de/10005621594
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Long-Run Risk and Hidden Growth Persistence
Pakos, Michal - Volkswirtschaftliche Fakultät, … - 2013
, corresponding research on learning about growth persistence is completely lacking. Hidden persistence is a novel way to introduce …
Persistent link: https://www.econbiz.de/10011111345
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Market Proxies, Correlation, and Relative Mean-Variance Efficiency: Still Living with the Roll Critique
Todd, Prono - Volkswirtschaftliche Fakultät, … - 2009
A test of the CAPM is developed conditional on a prior belief about the correlation between the true market return and … the inefficiency of the proxy. An extension of the proposed test to a CAPM with conditioning information links …
Persistent link: https://www.econbiz.de/10008543524
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Eficiencia del Mercado Accionario Chileno: Un Enfoque Dinámico usando Tests de Volatilidad
Acuña, Andrés; Pinto, Cristián - Volkswirtschaftliche Fakultät, … - 2007
In this paper we analyze the Chilean Stock Market's efficiency level. The efficiency concept, relates financial asset prices, the outcome from investment decisions, with all the information available to economic agents in their rational economic decision making process. To corroborate the stock...
Persistent link: https://www.econbiz.de/10005619423
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Size and liquidity effects in Nigeria: an industrial sector study
Hearn, Bruce - Volkswirtschaftliche Fakultät, … - 2013
asset pricing model (CAPM) including size premiums and a time varying parameter model for the West African emerging market …
Persistent link: https://www.econbiz.de/10011108128
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Investor Psychology and Asset Pricing
Hirshleifer, David - Volkswirtschaftliche Fakultät, … - 2001
The basic paradigm of asset pricing is in vibrant flux. The purely rational approach is being subsumed by a broader approach based upon the psychology of investors. In this approach, security expected returns are determined by both risk and misvaluation. This survey sketches a framework for...
Persistent link: https://www.econbiz.de/10005619847
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Two Essays on Self-Tender Offers
Gray, W - Volkswirtschaftliche Fakultät, … - 2005
This two chapter body of work examines empirical and theoretical aspects of self-tender offers. The first chapter is an empirical study of self-tender offers. This section gives the reader an opportunity to understand some of the simple mechanics and issues regarding self-tender offers in the...
Persistent link: https://www.econbiz.de/10005619923
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Investment Decisions by Analysts: A Case Study of KSE
Shaikh, Salman - Volkswirtschaftliche Fakultät, … - 2013
Security prices in efficient markets reflect all relevant information. Past price formations and even fundamental analysis cannot guarantee abnormal returns consistently to any pre-identified strategy or market participant, be they novice or expert traders. There have been various studies done...
Persistent link: https://www.econbiz.de/10011113920
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Beyond Extended Phenotype Evolution of extended identity in order to reconcile study of humanity with biological evolution
Mezgebo, Taddese - Volkswirtschaftliche Fakultät, … - 2014
The question: “How much of biological evolution based theories, as they are understood presently, apply to human … evolutionary cognition is also used to show that such evolution could happen 4 million years ago (MYA). …
Persistent link: https://www.econbiz.de/10011258986