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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Mistakes About 2 nd Moments<br />
Suppose that investor make mistakes<br />
about 2 nd moments.<br />
The most likely mistake stems from<br />
investor overconfidence.<br />
This means that investors<br />
underestimate the 2 nd moment.<br />
What shape will the sentiment function<br />
assume?<br />
Copyright Hersh <strong>Shefrin</strong> <strong>2008</strong><br />
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