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Financial Claustrophobia: Asset Pricing in Illiquid Markets

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NBER2004-04-01 更新2025-01-04 收录
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https://www.nber.org/papers/w10411
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There are many examples of markets where an agent who wants to get out of an investment position quickly may find himself trapped and forced to remain in that position because of a lack of liquidity. What are the asset-pricing implications when agents cannot always buy and sell assets immediately?
创建时间:
2004-04-01
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