How Efficient Markets Undervalue Stocks: CAPM and ECMH Under Conditions of Uncertainty and Disagreement.

This paper presents a simple heterogenous expectations pricing model premised on investor disagreement, risk aversion, and short sales restrictions.

Year of publication:	1997
Authors:	Stout, L.A.
Institutions:	Georgetown University Law Center
Subject:	ASSET PRICING \| CAPITAL MARKET \| RISK

Series:	Georgetown University Law Center.
Type of publication:	Book / Working Paper
Notes:	37 pages
Classification:	G10 - General Financial Markets. General ; G12 - Asset Pricing ; G13 - Contingent Pricing; Futures Pricing
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005669938