demográfica ; We study the dynamics of a Lucas-tree model with finitely lived agents who "learn from experience." Individuals …

bubbles, a bubble itself is not sufficient to cause real-side disruption. What central bankers should learn from Japan …

size and book-to-market ratio in Chapter 3. This is a cross-sectional test of the conditional CAPM. The models examined …-factor asset pricing models. Models tested are the CAPM, the Fama-French three-factor model and a four-factor model including the … coefficients of coskewness and cokurtosis have the correct sign as predicted by the higher-moment CAPM theory but only cokurtosis …

kernel that depends on returns, as in the CAPM or the APT, can accurately price assets. In this sense, theory based on …

returns. The finance literature has uncovered several potential failings of the Capital Asset Pricing Model (CAPM). I … investigate the ability of additional risk factors, which are not considered by the CAPM, to explain these problems. In particular … to refine and reassess the cross-sectional evidence against the CAPM.In the first chapter, I test the cross …

. Insgesamt war der Einfluß der Persönlichkeitseigenschaften auf das Anlageverhalten jedoch relativ gering, und dabei vor allem … factors on investor behavior, socio-demograpic variables and the investor experience were taken into account as additional … behavior scales, albeit a fairly small one. The investor's experience had a slightly stronger impact. Mainly the emotion …