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The excess volatility puzzle explained by financial noise amplification from endogenous feedbacks
The arguably most important paradox of financial economics—the excess volatility puzzle—first identified by Robert Shiller in 1981 states that asset prices fluctuate much more than information about their fundamental value. We show that this phenomenon is associated with an intrinsic propensity for...
| Autores principales: | , |
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
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Nature Publishing Group UK
2022
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| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9640597/ https://www.ncbi.nlm.nih.gov/pubmed/36344614 http://dx.doi.org/10.1038/s41598-022-20879-0 |