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X-CAPM: An X-CAPM: An

X-CAPM: An - PowerPoint Presentation

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Uploaded On 2016-06-11

X-CAPM: An - PPT Presentation

extrapolative capital asset pricing model Barberis et al JFE forthcoming Roy Motivation Greenwood and Shleifer 2014 investors hold extrapolative expectations Hard to be justified by traditional models ID: 358436

extrapolators price change stock price extrapolators stock change rational consumption power predictive dividend volatility investors surplus equilibrium future model process beliefs high

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