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 />
105.10%<br />
104.74%<br />
104.38%<br />
60.00%<br />
50.00%<br />
40.00%<br />
30.00%<br />
ln(SDF)<br />
20.00%<br />
10.00%<br />
ln SDF & Sentiment<br />
104.03%<br />
Sentiment<br />
Function<br />
32<br />
0.00%<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 />
103.67%<br />
102.96%<br />
103.32%<br />
-10.00%<br />
ln(g)<br />
-20.00%<br />
-30.00%<br />
Copyright Hersh <strong>Shefrin</strong> <strong>2008</strong><br />
Gross Consumption Growth Rate g