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...
作者：Bulkley, G; Harris, RDF
摘要：This paper investigates whether excess stock price volatility may be due in part to a failure of the market to form rational expectations. Using data on analysts' expectations of long run earnings growth for individual companies, we report a number of interrelated results which lend support to this hypothesis. These results together imply that the cross-section of stock prices will also be excessively dispersed, so that stocks with low earnings expectations are underpriced and stocks with high...
