The Economic Consequences of Noise Traders
收藏NBER1987-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2395
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资源简介：
The claim that financial markets are efficient is backed by an implicit argument that misinformed "noise traders" can have little influence on asset prices in equilibrium. If noise traders' beliefs are sufficiently different from those of rational agents to significantly affect prices, then noise
提供机构：
美国国家经济研究局创建时间：
1987-10-01
