From Efficient Markets Theory to Behavioral Finance

Robert J. Shiller

The Journal of Economic Perspectives, Vol. 17, No. 1. (Winter, 2003), pp. 83-104.

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From Efficient Markets Theory to Behavioral FinanceRobert J. ShillerThe Journal of Economic Perspectives, Vol. 17, No. 1. (Winter, 2003), pp. 83-104.Stable URL:

http://links.jstor.org/sici?sici=0895-3309%28200324%2917%3A1%3C83%3AFEMTTB%3E2.0.CO%3B2-J

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[Footnotes]

4 Dividend Innovations and Stock Price VolatilityKenneth D. WestEconometrica, Vol. 56, No. 1. (Jan., 1988), pp. 37-61.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198801%2956%3A1%3C37%3ADIASPV%3E2.0.CO%3B2-M

5 Why Does the Stock Market Fluctuate?Robert B. Barsky; J. Bradford De LongThe Quarterly Journal of Economics, Vol. 108, No. 2. (May, 1993), pp. 291-311.Stable URL:

http://links.jstor.org/sici?sici=0033-5533%28199305%29108%3A2%3C291%3AWDTSMF%3E2.0.CO%3B2-I

7 The Dividend-Price Ratio and Expectations of Future Dividends and Discount FactorsJohn Y. Campbell; Robert J. ShillerThe Review of Financial Studies, Vol. 1, No. 3. (Autumn, 1988), pp. 195-228.Stable URL:

http://links.jstor.org/sici?sici=0893-9454%28198823%291%3A3%3C195%3ATDRAEO%3E2.0.CO%3B2-O

8 Asset Prices in an Exchange EconomyRobert E. Lucas, Jr.Econometrica, Vol. 46, No. 6. (Nov., 1978), pp. 1429-1445.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28197811%2946%3A6%3C1429%3AAPIAEE%3E2.0.CO%3B2-I

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8 The Determinants of the Variability of Stock Market PricesSanford J. Grossman; Robert J. ShillerThe American Economic Review, Vol. 71, No. 2, Papers and Proceedings of the Ninety-ThirdAnnual Meeting of the American Economic Association. (May, 1981), pp. 222-227.Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28198105%2971%3A2%3C222%3ATDOTVO%3E2.0.CO%3B2-8

15 Market Volatility and Investor BehaviorRobert J. ShillerThe American Economic Review, Vol. 80, No. 2, Papers and Proceedings of the Hundred andSecond Annual Meeting of the American Economic Association. (May, 1990), pp. 58-62.Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28199005%2980%3A2%3C58%3AMVAIB%3E2.0.CO%3B2-H

16 A Theoretical Analysis of Real Estate Returns: DiscussionMeir StatmanThe Journal of Finance, Vol. 40, No. 3, Papers and Proceedings of the Forty-Third Annual MeetingAmerican Finance Association, Dallas, Texas, December 28-30, 1984. (Jul., 1985), pp. 719-721.Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28198507%2940%3A3%3C719%3AATAORE%3E2.0.CO%3B2-8

16 Are Investors Reluctant to Realize Their Losses?Terrance OdeanThe Journal of Finance, Vol. 53, No. 5. (Oct., 1998), pp. 1775-1798.Stable URL:

http://links.jstor.org/sici?sici=0022-1082%28199810%2953%3A5%3C1775%3AAIRTRT%3E2.0.CO%3B2-4

References

Why Does the Stock Market Fluctuate?Robert B. Barsky; J. Bradford De LongThe Quarterly Journal of Economics, Vol. 108, No. 2. (May, 1993), pp. 291-311.Stable URL:

http://links.jstor.org/sici?sici=0033-5533%28199305%29108%3A2%3C291%3AWDTSMF%3E2.0.CO%3B2-I

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Stock Prices, Earnings, and Expected DividendsJohn Y. Campbell; Robert J. ShillerThe Journal of Finance, Vol. 43, No. 3, Papers and Proceedings of the Forty-Seventh AnnualMeeting of the American Finance Association, Chicago, Illinois, December 28-30, 1987. (Jul.,1988), pp. 661-676.Stable URL:

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The Dividend-Price Ratio and Expectations of Future Dividends and Discount FactorsJohn Y. Campbell; Robert J. ShillerThe Review of Financial Studies, Vol. 1, No. 3. (Autumn, 1988), pp. 195-228.Stable URL:

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Positive Feedback Investment Strategies and Destabilizing Rational SpeculationJ. Bradford de Long; Andrei Shleifer; Lawrence H. Summers; Robert J. WaldmannThe Journal of Finance, Vol. 45, No. 2. (Jun., 1990), pp. 379-395.Stable URL:

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The Informational Effects of Restrictions on Short Sales: Some Empirical EvidenceStephen FiglewskiThe Journal of Financial and Quantitative Analysis, Vol. 16, No. 4, Proceedings of 16th AnnualConference of the Western Finance Association, June 18-20, 1981, Jackson Hole, Wyoming. (Nov.,1981), pp. 463-476.Stable URL:

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Famous First BubblesPeter M. GarberThe Journal of Economic Perspectives, Vol. 4, No. 2. (Spring, 1990), pp. 35-54.Stable URL:

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The Determinants of the Variability of Stock Market PricesSanford J. Grossman; Robert J. ShillerThe American Economic Review, Vol. 71, No. 2, Papers and Proceedings of the Ninety-ThirdAnnual Meeting of the American Economic Association. (May, 1981), pp. 222-227.Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28198105%2971%3A2%3C222%3ATDOTVO%3E2.0.CO%3B2-8

Implications of Security Market Data for Models of Dynamic EconomiesLars Peter Hansen; Ravi JagannathanThe Journal of Political Economy, Vol. 99, No. 2. (Apr., 1991), pp. 225-262.Stable URL:

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Returns to Buying Winners and Selling Losers: Implications for Stock Market EfficiencyNarasimhan Jegadeesh; Sheridan TitmanThe Journal of Finance, Vol. 48, No. 1. (Mar., 1993), pp. 65-91.Stable URL:

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Asset Prices in an Exchange EconomyRobert E. Lucas, Jr.Econometrica, Vol. 46, No. 6. (Nov., 1978), pp. 1429-1445.Stable URL:

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Are Investors Reluctant to Realize Their Losses?Terrance OdeanThe Journal of Finance, Vol. 53, No. 5. (Oct., 1998), pp. 1775-1798.Stable URL:

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Market Volatility and Investor BehaviorRobert J. ShillerThe American Economic Review, Vol. 80, No. 2, Papers and Proceedings of the Hundred andSecond Annual Meeting of the American Economic Association. (May, 1990), pp. 58-62.Stable URL:

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Bubbles, Crashes, and Endogenous Expectations in Experimental Spot Asset MarketsVernon L. Smith; Gerry L. Suchanek; Arlington W. WilliamsEconometrica, Vol. 56, No. 5. (Sep., 1988), pp. 1119-1151.Stable URL:

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A Theoretical Analysis of Real Estate Returns: DiscussionMeir StatmanThe Journal of Finance, Vol. 40, No. 3, Papers and Proceedings of the Forty-Third Annual MeetingAmerican Finance Association, Dallas, Texas, December 28-30, 1984. (Jul., 1985), pp. 719-721.Stable URL:

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Dividend Innovations and Stock Price VolatilityKenneth D. WestEconometrica, Vol. 56, No. 1. (Jan., 1988), pp. 37-61.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198801%2956%3A1%3C37%3ADIASPV%3E2.0.CO%3B2-M

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