Asset Pricing in Markets with Illiquid Assets

Article, Preprint English OPEN
Longstaff, Francis A;
(2005)
  • Publisher: eScholarship, University of California

Many important classes of assets are illiquid in the sense that they cannot always be traded immediately. Thus, a portfolio position in these types of illiquid investments becomes at least temporarily irreversible. We study the asset-pricing implications of illiquidity ... View more
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