... by the Federal Reserve Bank of Philadelphia (SPF) offer one potential source of information that could be useful in addressing such questions. Dispersion in economic forecasts Mispricing Disagreement risk Cross-section of stock returns Return predictability G11 G12 C13 E20 E30 Miller...

...-use rights only Asymmetric jump distribution Dynamic asset allocation Double-exponential jump diffusion model G11 C13 d R t = ( μ − 0.5 σ 2 ) d t + σ d B t + Y u d N ( λ u ) − Y d d N ( λ d...

... Portfolio diversification Alternative investment Chinese oil paintings Hedonic regression C13 G11 In recent years, art investment (mostly in paintings) has gained increasing interest in academia and industry. The research in this area has focused on financial return characteristics of art...

.... © Emerald Publishing Limited 2017 Emerald Publishing Limited Licensed re-use rights only Asset pricing α Cost of capital Normality t-Distribution C12 C13 G12 Ever since Fama (1965) , Affleck-Graves and McDonald (1989) , Richardson and Smith (1993...