Estimation Risk, Market Efficiency, and the Predictability of Returns
收藏NBER2000-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w7699
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资源简介：
In asset pricing, estimation risk refers to investor uncertainty about the parameters of the return or cashflow process. We show that with estimation risk the observable properties of prices and returns can differ significantly from the properties perceived by rational investors. In particular,
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美国国家经济研究局创建时间：
2000-05-01
