The Recovery Theorem
收藏NBER2011-08-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w17323
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资源简介：
We can only estimate the distribution of stock returns but we observe the distribution of risk neutral state prices. Risk neutral state prices are the product of risk aversion - the pricing kernel - and the natural probability distribution. The Recovery Theorem enables us to separate these and to
提供机构：
美国国家经济研究局
创建时间：
2011-08-01
