Risk Preferences Implied by Synthetic Options
收藏NBER2023-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w31833
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资源简介：
The historical returns on equity index options are well known to be strikingly negative. That is typically explained either by investors having convex marginal utility over stock returns (e.g. crash/variance aversion) or by intermediaries demanding a premium for hedging risk. This paper examines the
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美国国家经济研究局创建时间：
2023-11-01
