作者：Cuthbertson, K; Hayes, S; Nitzsche, D
作者单位：Universidad Nacional Autonoma de Mexico
摘要：The VAR methodology of Campbell and Shiller !(1989) is employed under four different assumptions regarding equilibrium expected returns to assess the efficiency of the UI; stock market. In our first model. equilibrium expected (real) returns are assumed to be constant, while in the second model. excess returns are assumed to be constant. The next two models assume that equilibrium returns depend upon a time-varying risk premium which varies with the conditional expectation of the return varian...
作者：Combris, P; Lecocq, S; Visser, M
作者单位：heSam Universite; Universite Pantheon-Sorbonne
摘要：In this paper the hedonic price technique is applied to Bordeaux wine. In the hedonic price function we include not only the 'objective' characteristics appearing on the label of the bottle, but also the sensory characteristics of the wine. Our data come from an experimental study in which juries have evaluated and graded a sample of Bordeaux wines. The estimation of the hedonic price equation shows that the market price is essentially determined by the objective characteristics, The estimatio...
