Eine Anmerkung zur Exzeß-Volatilitätsdebatte in der Empirischen Kapitalmarktforschung
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Eine Anmerkung zur Exzeß-Volatilitätsdebatte in der Empirischen Kapitalmarktforschung
A note on excess volatilities in empirical capital market research
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 114 (1994), Iss. 2 : pp. 173–183
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Krämer, Walter
Abstract
The paper shows that seemingly excessive volatilities of capital assets, which often serve as an argument against efficient markets, can easily occur when markets are perfectly efficient, and do therefore carry much less weight than many critics seem to think.