Salience and Asset Prices
收藏NBER2013-01-01 更新2025-01-04 收录
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https://www.nber.org/papers/w18708
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资源简介：
We present a simple model of asset pricing in which payoff salience drives investors' demand for risky assets. The key implication is that extreme payoffs receive disproportionate weight in the market valuation of assets. The model accounts for several puzzles in finance in an intuitive way,
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美国国家经济研究局创建时间：
2013-01-01
