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SUMMARY:The limits of arbitrage\, exploring &quot\;noise traders&quot\; ri
 sk - Omri Ross
DTSTART:20110127T151500Z
DTEND:20110127T160000Z
UID:TALK29446@talks.cam.ac.uk
CONTACT:Elena Yudovina
DESCRIPTION:Empirical evidence suggests that investors are not fully ratio
 nal. We will discuss the paper of De Long et al (1990) which looks at a ma
 rket equilibrium where some of the investors in the market are not fully r
 ational. Furthermore\, we touch upon some empirical facts and discuss why 
 the concept of arbitrage has limited practical implications. No prior know
 ledge assumed.
LOCATION:CMS\, MR4
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