Exchangeability-type properties of asset prices
نویسندگان
چکیده
منابع مشابه
Properties of Asset Prices and Costs of Sticky Prices
Operating leverage, the fraction of fixed costs of production in total costs, has recently attracted considerable attention in the asset pricing literature. Indeed, the theoretical asset pricing literature often relies on some form of operating leverage to rationalize the value premium, the fact that firms with currently low valuations compared to assets in place have higher subsequent returns ...
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ژورنال
عنوان ژورنال: Advances in Applied Probability
سال: 2011
ISSN: 0001-8678,1475-6064
DOI: 10.1239/aap/1316792665