The desire to hire the best athletes and coaches in order to maximize team performance
necessitates generous compensation contracts, which in turn increase the risk of financial …

Behavioral bubble models typically assume that uninformed trend-chasers, presumably
individual investors, cause bubbles, while informed contrarian investors such as institutions, …

We document significant intra-year seasonality in outliers of S&P500 daily rates of return.
Controlling for outliers in dummy regressions reveals that both the January and Monday effects …

Trading halts are aimed at reducing information asymmetry by granting investors the opportunity
to reassess trades upon arrival of new, substantial information. This study is the first to …

Asset-pricing models with volume are challenged by the high turnover-rates in real stock
markets. We develop an asset-pricing framework with heterogeneous risk preferences and …

We measured bond and stock conditional return volatility as a function of changes in
sentiment, proxied by six indicators of the Tel-Aviv Stock Exchange. We found that changes in …

… Author links open overlay panel Haim Kedar-Levy a b … Solving for P t + Δ t H we have(7) P
t + Δ t H = E t ( μ ) − r δ k σ 2 Dk , t + Δ t + η k δ k r ( 1 − e r ( t − T k ) ) N k , t 1 − E t ( μ ) − r δ k σ 2 …

… * This article is derived from a report submitted to the Israel Accounting Standards Board
by Professor Haim Kedar-Levy on the existence of a deep market in Israel, with findings …

… In the second stage we examine the m paired hypotheses, H(m), sequentially. The test starts
with P… Dan Galai acknowledges funding from the Zagagi Center, Kedar-Levy acknowledges …

We develop closed-form expressions for the path and speed of stock price discovery in a
utility-based CAPM with wealth effects. Two investors with uniquely bounded risk-preferences …