Learning in Financial Markets /
Pastor, Lubos.
Learning in Financial Markets / Lubos Pastor, Pietro Veronesi. - Cambridge, Mass. National Bureau of Economic Research 2009. - 1 online resource: illustrations (black and white); - NBER working paper series no. w14646 . - Working Paper Series (National Bureau of Economic Research) no. w14646. .
January 2009.
We survey the recent literature on learning in financial markets. Our main theme is that many financial market phenomena that appear puzzling at first sight are easier to understand once we recognize that parameters in financial models are uncertain and subject to learning. We discuss phenomena related to the volatility and predictability of asset returns, stock price bubbles, portfolio choice, mutual fund flows, trading volume, and firm profitability, among others.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
Learning in Financial Markets / Lubos Pastor, Pietro Veronesi. - Cambridge, Mass. National Bureau of Economic Research 2009. - 1 online resource: illustrations (black and white); - NBER working paper series no. w14646 . - Working Paper Series (National Bureau of Economic Research) no. w14646. .
January 2009.
We survey the recent literature on learning in financial markets. Our main theme is that many financial market phenomena that appear puzzling at first sight are easier to understand once we recognize that parameters in financial models are uncertain and subject to learning. We discuss phenomena related to the volatility and predictability of asset returns, stock price bubbles, portfolio choice, mutual fund flows, trading volume, and firm profitability, among others.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.