Browsing HBS Scholarly Articles by Author "Jin, Lawrence"

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    • Extrapolation and bubbles 

      Barberis, Nicholas; Greenwood, Robin; Jin, Lawrence; Shleifer, Andrei (Elsevier BV, 2018-08)
      We present an extrapolative model of bubbles. In the model, many investors form their demand for a risky asset by weighing two signals: an average of the asset’s past price changes and the asset’s degree of overvaluation. ...

    • X-CAPM: An Extrapolative Capital Asset Pricing Model 

      Barberis, Nicholas; Greenwood, Robin Marc; Jin, Lawrence; Shleifer, Andrei (National Bureau of Economic Research, 2013)
      Survey evidence suggests that many investors form beliefs about future stock market returns by extrapolating past returns. Such beliefs are hard to reconcile with existing models of the aggregate stock market. We study a ...