An innovative thinking on the concepts of ex-ante value, ex-post value and the realized value (price)
Researchers have been considering the realized value as the ex-post realization of theex-ante value. They have argued that that the realized values have failed to estimate the expectedvalue in asset-pricing models. We provide a new definition of the ex-post measurement and weshow that considering re...
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| Format: | Article |
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Pontificia Universidade Catolica de Sao Paulo
2015
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| Online Access: | http://eprints.utm.my/id/eprint/60101/ http://dx.doi.org/10.24212/2179-3565.2015v6i1p48-57 |
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| Summary: | Researchers have been considering the realized value as the ex-post realization of theex-ante value. They have argued that that the realized values have failed to estimate the expectedvalue in asset-pricing models. We provide a new definition of the ex-post measurement and weshow that considering realized value as the ex-post realization of the ex-ante value is misleadingand this has led to the failure in estimating the expected value. |
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