Noise Trading, Delegated Portfolio Management, and Economic Welfare
收藏NBER1994-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w4858
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资源简介：
We consider a model of the stock market with delegated portfolio management. All agents are rational: some trade for hedging reasons, some investors optimally contract with portfolio managers who may have stock-picking abilities, and portfolio managers trade optimally given the incentives provided
提供机构：
美国国家经济研究局
创建时间：
1994-09-01
