Noise Trader Risk and the Political Economy of Privatisation
Date
2001
Authors
Grant, Simon
Quiggin, John
Journal Title
Journal ISSN
Volume Title
Publisher
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.
Description
Keywords
equity premium puzzle, noise trader risk, privatization.
Citation
Collections
Source
Type
Working/Technical Paper
Book Title
Entity type
Access Statement
License Rights
DOI
Restricted until
Downloads
File
Description