Can the Market Multiply and Divide? Non-Proportional Thinking in Financial Markets
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https://www.nber.org/papers/w25751
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资源简介：
Nominal stock prices are arbitrary. Therefore, when evaluating how a piece of news should affect the price of a stock, rational investors should think in percentage rather than dollar terms. However, dollar price changes are ubiquitously reported and discussed. This may both cause and reflect a
提供机构：
美国国家经济研究局
创建时间：
2019-04-01
