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An Empirical Evaluation of Behavioral Models Based on Decompositions of Stock Prices*

✍ Scribed by Lee, Bong‐Soo

Book ID
123881108
Publisher
University of Chicago Press
Year
2006
Tongue
English
Weight
434 KB
Volume
79
Category
Article
ISSN
0021-9398

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## Abstract This paper studies the ability of a general class of habit‐based asset pricing models to match the conditional moment restrictions implied by asset pricing theory. We treat the functional form of the habit as unknown, and estimate it along with the rest of the model's finite dimensional