| Noise Trader Risk and the Political Economy of Privatisation (2001) | |||||||||||||||
Abstract | |||||||||||||||
| The 'noise trader' model of De Long et al. provides a plausible account of the determination of the equity premium. Extension of the model to allow for privatization of publicly-owned assets yields insights into the positive political economy of privatization and into the normative question of how policies should be evaluated in the presence of mistaken beliefs. | |||||||||||||||
Details der Publikation | |||||||||||||||
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