Does overconfidence always matter for asset prices?

作者:Wu, Weixing; Wang, Yongxiang*
来源:Applied Economics Letters, 2009, 16(8): 827-830.
DOI:10.1080/13504850701221923

摘要

Research in behaviour finance has provided seemingly persuasive evidences that overconfidence affects asset prices. We provide a model with model uncertainty and overconfidence in which overconfidence could have no effect on asset prices.