Shefrin - Behavioral & Neoclassical asset pricing theories - 2008
Shefrin - Behavioral & Neoclassical asset pricing theories - 2008
Shefrin - Behavioral & Neoclassical asset pricing theories - 2008
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106.19%<br />
105.82%<br />
105.46%<br />
Shape of Sentiment Function<br />
Optimism - Bullishness<br />
105.10%<br />
Sentiment Function<br />
0.8<br />
0.6<br />
0.4<br />
0.2<br />
0<br />
20<br />
104.74%<br />
95.82%<br />
96.15%<br />
96.48%<br />
96.81%<br />
97.14%<br />
97.48%<br />
97.81%<br />
98.15%<br />
98.48%<br />
98.82%<br />
99.16%<br />
99.50%<br />
99.84%<br />
100.18%<br />
100.53%<br />
100.87%<br />
101.22%<br />
101.56%<br />
101.91%<br />
102.26%<br />
102.61%<br />
102.96%<br />
103.32%<br />
103.67%<br />
104.03%<br />
104.38%<br />
-0.2<br />
-0.4<br />
-0.6<br />
-0.8<br />
Copyright Hersh <strong>Shefrin</strong> <strong>2008</strong><br />
Consumption Growth Rate g (Gross)
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