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Annual Review of Financial Economics
Article
Data sources: UnpayWall
Research Papers in Economics
Preprint . 2009
Full-Text: http://www.nber.org/papers/w14646.pdf
Data sources: Research Papers in Economics
Annual Review of Financial Economics
Article . 2009 . Peer-reviewed
Data sources: Crossref
Review of Financial Economics
Article
Data sources: Microsoft Academic Graph
Research Papers in Economics
Article . 2009
Data sources: Research Papers in Economics
Research Papers in Economics
Preprint . 2009
Data sources: Research Papers in Economics
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Learning in Financial Markets

descriptionPublicationkeyboard_double_arrow_right Article , Preprint 01 Dec 2009 English Publisher:Annual ReviewsJournal:Annual Review of Financial Economics, volume 1, pages 361-381 (issn: 1941-1367, eissn: 1941-1375, Copyright policy )
Authors: Pietro Veronesi; Pietro Veronesi; Pietro Veronesi; Lubos Pastor; Lubos Pastor; Lubos Pastor;

doi: 10.1146/annurev.financial.050808.114428

Learning in Financial Markets

Abstract

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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Keywords

Bayesian, uncertainty, bubble, volatility, predictability, Bayesian; bubble; predictability; uncertainty; volatility, jel: jel:G0, jel: jel:D83, jel: jel:L25, jel: jel:G12, jel: jel:G23, jel: jel:G11

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    Impact byBIP!
    citations
    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    		 250
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    		 Top 1%
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    		 Top 1%
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    		 Top 1%
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citations
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
250
Top 1%
Top 1%
Top 1%
bronze
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