Martingale-Like Behavior of Prices
收藏NBER1980-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w0489
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资源简介：
Asset prices set in a competitive market need not be martingales; that is, it need not be true that the best predictor of future prices is the current price. Nonetheless, statistical tests for this property are sometimes treated as tests for the proper functioning of an asset market; asset prices
提供机构：
美国国家经济研究局
创建时间：
1980-06-01
