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次第花开 · 2020年01月03日

问一道题:NO.PZ201511190100000103

* 问题详情,请 查看题干

问题如下:

Statement 4 is most consistent with:

选项:

A.

the adaptive markets hypothesis.

B.

a behavioral approach to asset pricing.

C.

Savage’s subjective expected utility theory.

解释:

B is correct.

Statement 4 indicates that markets can be influenced by the emotions of others (sentiment). This is consistent with a behavioral approach to asset pricing that includes sentiment such as the behavioral stochastic discount factor-based asset pricing model proposed by Shefrin.

Savage’s subjective expected utility theory 具体指什么呢?另外statement 4 不是说技术分析的么?谢谢

1 个答案

企鹅_品职助教 · 2020年01月07日

嗨,从没放弃的小努力你好:


subjective expected utility theory指的是是在expected utility theory基础上加上主观的权重

(参见基础班讲义38页)

statement 4 "buy/sell signal"那里说的是技术分析,但是第一句话“I do belive that the markets can be driven by emotions of others”说的是市场会被人的感情说影响,也就是sentiment premium.

B选项 behavioral apporach to asset pricing 会在资产定价模型中加入sentiment premium的部分,因此这道题B选项是正确的。


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