Normative implications of equilibrium models: Homogeneous expectations and other artificialities

A new round in an ongoing discussion about the usefulness and validity of the Capital Asset Pricing Model (CAPM) began with an academic paper by Fama and French. The tumult is not just the result of opposing ideas, but is also about conflicting professional and economic interests. The disagreements...

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Veröffentlicht in:	Journal of economic behavior & organization 1996-10, Vol.31 (1), p.67-83
Hauptverfasser:	Frankfurter, George M., Phillips, Herbert E.
Format:	Artikel
Sprache:	eng
Schlagworte:	Arbitrage Arbitrage pricing theory Asset valuation Beta Capital asset pricing model Economic behaviour Equilibrium models Normative theory Pricing
Online-Zugang:	Volltext
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