Asset Return Dynamics and Learning

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William A. Branch; George W. Evans;
(2010)
  • Journal: The Review of Financial Studies,volume 23,issue 4 4,pages1,651-1,680
  • Related identifiers: doi: 10.1093/rfs/hhp112

This article advocates a theory of expectation formation that incorporates many of the central motivations of behavioral finance theory while retaining much of the discipline of the rational expectations approach. We provide a framework in which agents, in an asset pric... View more
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