Differing beliefs lead to price drift: The standard view of how stock prices move—that investors act rationally on information and that markets are efficient—does not account for price drift. Snehal Banerjee explains that price drift may occur because investors agree to disagree about the average valuation of an asset.
Content: Article
Authors: Ilan Kremer, Ron Kaniel, Snehal Banerjee
Source: Kellogg Insight
Subjects: Economics, Finance
Authors: Ilan Kremer, Ron Kaniel, Snehal Banerjee
Source: Kellogg Insight
Subjects: Economics, Finance
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