Limited market participation and volatility of asset prices

EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK*

1970 • 15,798 citations

Bank Runs, Deposit Insurance, and Liquidity

1983 • 8,993 citations

Noise Trader Risk in Financial Markets

1990 • 6,029 citations

The equity premium: A puzzle

1985 • 5,686 citations

The consumption of stockholders and nonstockholders

1991 • 1,223 citations

Market Liquidity, Hedging, and Crashes

1990 • 595 citations

Organized Futures Markets: Costs and Benefits

1977 • 169 citations

Endogenous Market Participation and the General Equilibrium Value of Money

1992 • 103 citations

Stock Price Volatility: Tests Based on the Geometric Random Walk

1992 • 57 citations