A Tough Act to Follow: Contrast Effects In Financial Markets
收藏NBER2017-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w23883
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资源简介：
A contrast effect occurs when the value of a previously-observed signal inversely biases perception of the next signal. We present the first evidence that contrast effects can distort prices in sophisticated and liquid markets. Investors mistakenly perceive earnings news today as more impressive if
提供机构：
美国国家经济研究局
创建时间：
2017-10-01
