Is there evidence of pessimism in subjective distributions in Singapore? Implications on the equity premium puzzle
Abel (2002) defines uniform pessimism as the subjective distribution being a leftward shift of the objective distribution. He shows that pessimism in the subjective distribution of growth rate of consumption and output can help resolve the equity premium puzzle. We examine his model and investigate...
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Main Authors: | , |
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Format: | Final Year Project |
Language: | English |
Published: |
2017
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Subjects: | |
Online Access: | http://hdl.handle.net/10356/69773 |
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Institution: | Nanyang Technological University |
Language: | English |