It has been argued that there is a need to re-evaluate 'risky-shift' research, with a view to divorcing it from the topic of risk-taking (Moscovici, Doise and Dulong, 1972). Two sorts of findings have weakened the connection between the riskyshift research and risk-taking. In the first place, it has
✦ LIBER ✦
Testing the group polarization hypothesis by using logit models
✍ Scribed by María F. Rodrigo; Manuel Ato
- Publisher
- John Wiley and Sons
- Year
- 2002
- Tongue
- English
- Weight
- 160 KB
- Volume
- 32
- Category
- Article
- ISSN
- 0046-2772
- DOI
- 10.1002/ejsp.86
No coin nor oath required. For personal study only.
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## Abstract This paper develops a model for the forward and spot exchange rate which allows for the presence of a Markov switching risk premium in the forward market and considers the issue of testing the unbiased forward exchange rate (UFER) hypothesis. Using US/UK data, it is shown that the UFER