EconPapers    
Economics at your fingertips  
 

Learning in Financial Markets

Lubos Pastor () and Pietro Veronesi

No 14646, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We survey the recent literature on learning in financial markets. Our main theme is that many financial market phenomena that appear puzzling at first sight are easier to understand once we recognize that parameters in financial models are uncertain and subject to learning. We discuss phenomena related to the volatility and predictability of asset returns, stock price bubbles, portfolio choice, mutual fund flows, trading volume, and firm profitability, among others.

JEL-codes: G0 (search for similar items in EconPapers)
Date: 2009-01
New Economics Papers: this item is included in nep-bec and nep-fmk
Note: AP CF
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (63) Track citations by RSS feed

Published as Lubos Pastor & Pietro Veronesi, 2009. "Learning in Financial Markets," Annual Review of Financial Economics, Annual Reviews, vol. 1(1), pages 361-381, November.

Downloads: (external link)
http://www.nber.org/papers/w14646.pdf (application/pdf)

Related works:
Journal Article: Learning in Financial Markets (2009) Downloads
Working Paper: Learning in Financial Markets (2009) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:14646

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w14646

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().

 
Page updated 2021-02-23
Handle: RePEc:nbr:nberwo:14646