Noise Trader Risk and the Political Economy of Privatisation
Description
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.
Collections | ANU Research Publications |
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Date published: | 2001 |
Type: | Working/Technical Paper |
URI: | http://hdl.handle.net/1885/40509 http://digitalcollections.anu.edu.au/handle/1885/40509 |
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File | Description | Size | Format | Image |
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wp395.pdf | 189.91 kB | Adobe PDF |
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