Noise Trader Risk and the Political Economy of Privatization

The 'noise trader' model of De Long et al. provides a plausible account of the determination of the equity premium.Extension of the model to allow for privatization of publicly-owned assets yields insights into the positive political economy of privatization and into the normative question of how policies should be evaluated in the presence of mistaken beliefs.

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Year of publication:	2001
Authors:	Grant, S. ; Quiggin, J.
Institutions:	Tilburg University, Center for Economic Research
Subject:	risk \| privatization \| political economy \| noise trader

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Extent:	application/pdf
Series:	Discussion Paper.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series CentER Discussion Paper Number 2001-104
Classification:	E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011091876