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Do Survey Expectations of Stock Returns Reflect Risk-Adjustments?

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NBER2018-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w25122
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Motivated by the observation that survey expectations of stock returns are inconsistent with rational return expectations under real-world probabilities, we investigate whether alternative expectations hypotheses entertained in the asset pricing literature are consistent with the survey evidence. We
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2018-10-01
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