Search
Now showing items 1-2 of 2
Trading ambiguity: A tale of two heterogeneities
(Wiley, 2023)
We consider markets with heterogeneously ambiguous assets and heterogeneously ambiguity-averse investors whose preferences are a parsimonious extension of the mean–variance framework. We study portfolio choice and trade ...
Price of regulations: Regulatory costs and the cross-section of stock returns
(Oxford University Press, 2024-01)
Regulations introduce significant fixed costs and add to operating leverage. Fixed regulatory costs that contribute to operating leverage should generate a risk premium. To explore whether such a premium exists, we introduce ...
Share this page