Measuring and interpreting expectations of equity returns:
"We analyze probabilistic expectations of equity returns elicited in the Survey of Economic Expectations in 1999-2001 and in the Michigan Survey of Consumers in 2002-2004. Our empirical findings suggest that individuals use interpersonally variable but intrapersonally stable processes to form t...
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2005
|
| Series: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
11313 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | "We analyze probabilistic expectations of equity returns elicited in the Survey of Economic Expectations in 1999-2001 and in the Michigan Survey of Consumers in 2002-2004. Our empirical findings suggest that individuals use interpersonally variable but intrapersonally stable processes to form their expectations. We therefore propose to think of the population as a mixture of expectations types, each forming expectations in a stable but different way. We use our expectations data to learn about the prevalence of several specific types suggested by research in conventional and behavioral finance, but conclude that these types do not adequately explain the diverse expectations held by the population"--National Bureau of Economic Research web site. |
| Physical Description: | 34 S. |
Staff View
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| geographic_facet | USA United States Economic conditions Public opinion Econometric models |
| id | DE-604.BV020045942 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T20:11:36Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-013366951 |
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| physical | 34 S. |
| publishDate | 2005 |
| publishDateSearch | 2005 |
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| publisher | National Bureau of Economic Research |
| record_format | marc |
| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Dominitz, Jeff Verfasser (DE-588)128749962 aut Measuring and interpreting expectations of equity returns Jeff Dominitz ; Charles F. Manski Cambridge, Mass. National Bureau of Economic Research 2005 34 S. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11313 "We analyze probabilistic expectations of equity returns elicited in the Survey of Economic Expectations in 1999-2001 and in the Michigan Survey of Consumers in 2002-2004. Our empirical findings suggest that individuals use interpersonally variable but intrapersonally stable processes to form their expectations. We therefore propose to think of the population as a mixture of expectations types, each forming expectations in a stable but different way. We use our expectations data to learn about the prevalence of several specific types suggested by research in conventional and behavioral finance, but conclude that these types do not adequately explain the diverse expectations held by the population"--National Bureau of Economic Research web site. Wirtschaft Ökonometrisches Modell Rational expectations (Economic theory) USA United States Economic conditions Public opinion Econometric models Manski, Charles F. 1948- Verfasser (DE-588)128388447 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11313 (DE-604)BV002801238 11313 http://papers.nber.org/papers/w11313.pdf kostenfrei Volltext |
| spellingShingle | Dominitz, Jeff Manski, Charles F. 1948- Measuring and interpreting expectations of equity returns National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Wirtschaft Ökonometrisches Modell Rational expectations (Economic theory) |
| title | Measuring and interpreting expectations of equity returns |
| title_auth | Measuring and interpreting expectations of equity returns |
| title_exact_search | Measuring and interpreting expectations of equity returns |
| title_full | Measuring and interpreting expectations of equity returns Jeff Dominitz ; Charles F. Manski |
| title_fullStr | Measuring and interpreting expectations of equity returns Jeff Dominitz ; Charles F. Manski |
| title_full_unstemmed | Measuring and interpreting expectations of equity returns Jeff Dominitz ; Charles F. Manski |
| title_short | Measuring and interpreting expectations of equity returns |
| title_sort | measuring and interpreting expectations of equity returns |
| topic | Wirtschaft Ökonometrisches Modell Rational expectations (Economic theory) |
| topic_facet | Wirtschaft Ökonometrisches Modell Rational expectations (Economic theory) USA United States Economic conditions Public opinion Econometric models |
| url | http://papers.nber.org/papers/w11313.pdf |
| volume_link | (DE-604)BV002801238 |
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