Maxing Out: Stocks as Lotteries and the Cross-Section of Expected Returns
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https://www.nber.org/papers/w14804
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资源简介：
Motivated by existing evidence of a preference among investors for assets with lottery-like payoffs and that many investors are poorly diversified, we investigate the significance of extreme positive returns in the cross-sectional pricing of stocks. Portfolio-level analyses and firm-level cross
提供机构：
美国国家经济研究局
创建时间：
2009-03-01
