A Model of Information Diffusion, Stock Market Behavior, and Equilibrium Price

A. James Boness and Frank C. Jen

Journal of Financial and Quantitative Analysis, 1970, vol. 5, issue 3, 279-296

Abstract: The determinants of prices of common stocks have been studied extensively by both academicians and practitioners. Differences in points of view between these two groups are evident in their corresponding interpretations of market behavior, which is represented by the assumedly contradictory random walk and intrinsic value “hypotheses.”

Date: 1970
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