Mei, Jianping; Scheinkman, Jose A.; Xiong, Wei - In: Annals of Economics and Finance 10 (2009) 2, pp. 225-255
The market dynamics of technology stocks in the late 1990s have stimulated a growing body of theory that analyzes the joint effects of short-sales constraints and heterogeneous beliefs on stock prices and trading volume. This paper examines several implications of these theories using a unique...