rationality losses of significance and cannot explain the evolution of trading. The economy is, however, driven by behavioral …

with internal rationality. We also show that equilibrium prices depend on expectations of the discounted price and dividend …

developed. We estimate the model using data on bond yields and individual survey responses from the Survey of Professional … Forecasters and perform a novel three-way decomposition of bond yields into (i) average expectations about short rates (ii) risk … premia and (iii) a speculative component due to heterogeneous expectations about the resale value of a bond. We prove that …

developed. We estimate the model using data on bond yields and individual survey responses from the Survey of Professional … Forecasters and perform a novel three-way decomposition of bond yields into (i) average expectations about short rates (ii) risk … premia and (iii) a speculative component due to heterogeneous expectations about the resale value of a bond. We prove that …

compared to CAPM and FFM only in the Indian context. The Fama French model seems to be an appropriate performance benchmark for …

Merton�s Intertemporal CAPM to test whether these four sources of risk command different risk prices. The model performs well …

significantly differs from zero. Then they took this result as a proof in favour of the theory that there is in the real world a … favour of the theory that the market portfolio is efficient. In this article, we present several tests and arguments that put …