Equilibrium Portfolio Strategies in the Presence of Sentiment Risk and Excess Volatility
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Our objective is to identify the trading strategy that would allow an investor to take advantage of "excessive" stock price volatility and "sentiment" fluctuations. We construct a general-equilibrium model of sentiment. In it, there are two classes of agents and stock prices are excessively volatile
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美国国家经济研究局创建时间：
2007-09-01
