"Superstitious" Investors
收藏NBER2019-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w25603
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资源简介：
We consider an economy in which investors believe dividend growth is predictable, when in reality it is not. We show that these beliefs lead to excess volatility and return predictability. We also show that these beliefs are rational in the face of evidence on dividend growth. We apply this
提供机构：
美国国家经济研究局
创建时间：
2019-03-01
