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Ratchet vs Blasé Investors and Asset Markets

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  • Pascal St-Amour

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  • Pascal St-Amour, 2004. "Ratchet vs Blasé Investors and Asset Markets," CIRANO Working Papers 2004s-11, CIRANO.
    • Handle: RePEc:cir:cirwor:2004s-11
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    File URL: https://cirano.qc.ca/files/publications/2004s-11.pdf
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    More about this item

    Keywords

    portfolio choice; wealth-dependent preferences; preference for status; asset pricing; equity premium; risk-free rate; predictability; choix de portefeuille; préférences contingentes à la richesse; préférence pour le statut social; valorisation des actifs; prime de risque; taux sans risque; prévisibilité;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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