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A Model of Information Diffusion, Stock Market Behavior, and Equilibrium Price

Published online by Cambridge University Press:  19 October 2009

A. James Boness  and
Frank C. Jen
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Extract

The determinants of prices of common stocks have been studied extensively by both academicians and practitioners. Differences in points of view between these two groups are evident in their corresponding interpretations of market behavior, which is represented by the assumedly contradictory random walk and intrinsic value “hypotheses.”

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 5 , Issue 3 , September 1970 , pp. 279 - 296
Copyright
Copyright © School of Business Administration, University of Washington 1970

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