Learning in financial markets / Lubos Pástor, Pietro Veronesi.
Material type:
TextSeries: Working paper series (National Bureau of Economic Research) ; no. 14646.Publication details: Cambridge, Mass. : National Bureau of Economic Research, 2009Description: 28 p. ; 22 cmSubject(s): Finance -- Econometric models | Learning -- Economic aspectsLOC classification: HB1 | .N38 no. 14646Online resources: Click here to access online Summary: We survey the recent literature on learning in financial markets. Our main theme is that many financial market phenomena that appear puzzling at first sight are easier to understand once we recognize that parameters in financial models are uncertain and subject to learning. We discuss phenomena related to the volatility and predictability of asset returns, stock price bubbles, portfolio choice, mutual fund flows, trading volume, and firm profitability, among others.
| Item type | Current library | Collection | Call number | Copy number | Status | Date due | Barcode |
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Book
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University of Macedonia Library Βιβλιοστάσιο Β (Stack Room B) | Research Papers | HB1.N38 no. 14646 (Browse shelf (Opens below)) | 1 | Available | 0013116425 |
Includes bibliographical references (p. 21-28).
We survey the recent literature on learning in financial markets. Our main theme is that many financial market phenomena that appear puzzling at first sight are easier to understand once we recognize that parameters in financial models are uncertain and subject to learning. We discuss phenomena related to the volatility and predictability of asset returns, stock price bubbles, portfolio choice, mutual fund flows, trading volume, and firm profitability, among others.
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