Now showing items 858-858 of 858

    • 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 ...