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.
| Original language | English |
|---|---|
| Place of Publication | Tilburg |
| Publisher | Microeconomics |
| Number of pages | 16 |
| Volume | 2001-104 |
| Publication status | Published - 2001 |
Publication series
| Name | CentER Discussion Paper |
|---|---|
| Volume | 2001-104 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 17 Partnerships for the Goals
Keywords
- risk
- privatization
- political economy
- noise trader
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