Grinblatt, Mark (contributor); Han, Bing (contributor) - 2003 - [Elektronische Ressource]
trading. This process of trading rede¯nes the unrealized gains and
losses of investors who trade in the stock. When we …,
incomplete information, capital constraints, or other forces restraining unlimited trade by investors.
Among others, Harris and … reference prices
and the prices at which new shares trade.
R
t+1
= V
t
P
t
+(1¡V
t
)R
t
(3)
This means that the reference price …