Year: 2013
Author: Nguyen, Tristan, Schüßler, Alexander
Der Betriebswirt, Vol. 54 (2013), Iss. 2 : pp. 26–30
Abstract
This paper presents aggregate market anomalies. Equity Premium Puzzle means that the historical equity premium is too high to be explained by preferences of expected ultility theory. According to Volatility Puzzle, stocks move too much to be justified by dividend movements. Predictibility Puzzle describes that there are several ratios that predict aggregate market performance. We give behavioral explanations for those anomalies.
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Journal Article Details
Publisher Name: Global Science Press
Language: German
DOI: https://doi.org/10.3790/dbw.54.2.26
Der Betriebswirt, Vol. 54 (2013), Iss. 2 : pp. 26–30
Published online: 2013-06
AMS Subject Headings: Duncker & Humblot, Deutscher Betriebswirte-Verlag GmbH
Copyright: COPYRIGHT: © Global Science Press
Pages: 5
Keywords: equity premium puzzle volatility puzzle prospect theory predictability puzzle
Author Details
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| Section Title | Page | Action | Price |
|---|---|---|---|
| Tristan Nguyen / Alexander Schüßler: Anomalien auf Aktienmärkten. Eine verhaltenswissenschaftliche Erklärung | 26 | ||
| Summary | 26 | ||
| 1. Überblick | 26 | ||
| 2. Das Equity Premium Puzzle | 26 | ||
| 3. Das Volatility Puzzle | 28 | ||
| 4. Das Predictability Puzzle | 29 | ||
| 5. Fazit | 30 | ||
| Literatur | 30 |