In this article we develop alternative ways to compare asset pricing models when it is understood that their implied stochastic discount factors do not price all portfolios correctly. Unlike comparisons…
…panel moderator, posed questions about connections between the prize-winning work, market efficiency, and asset pricing “bubbles.” Here, Lars Peter Hansen elaborates on his responses at the panel. Download Hansen’s answers…
…my perspective on an academic literature on valuation and uncertainty. This allowed me to place some of my recent research into a broader context. In addition, I met with several…
Download full CV LARS PETER HANSEN ADDRESS Department of Economics University of Chicago 1126 East 59th Street Chicago, Illinois 60637 Citizenship: USA Birth: October 26, 1952 EDUCATION 1978 Ph.D. (Economics)…
…postdoctoral fellows to cross-disciplinary research and for sustaining their interest in and commitment to such research.” The possibilities for replicating this approach stayed with me. I remained curious to see…
…to problems in economics and finance. This book extends rational expectations models by including agents who doubt their models and adopt precautionary decisions designed to protect themselves from adverse consequences…
…using this theory to let decision makers acknowledge misspecification in economic modeling, the authors develop applications to a variety of problems in dynamic macroeconomics. Technical, rigorous, and self-contained, this book…
…effects of that policy. This means that there are very complicated feedback relationships existing between policy and the behaviour of economic agents, and these relationships pose very difficult problems in…
…this model, but I need to use evidence to figure out unknown features of it.’” It’s a complicated investigation of a market with many competing interests and visions of the…