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Bitcoin Pricing Kernels (PKs) are estimated using a novel data set from Deribit, the leading Bitcoin options exchange. The PKs, as the ratio between risk-neutral and physical density, dynamically reflect the change in investor preferences. Thus, the PKs improve the understanding of investor...
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Inspired by the theory of social imitation (Weidlich 1970) and its adaptation to financial markets by the Coherent …
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