复习下学期华侨学院.pptxVIP

Chapter 7The Stock Market, the Theory of Rational Expectations, and the Efficient Market HypothesisOne-Period Valuation ModelGeneralized Dividend Valuation ModelGordon Growth ModelHow the Market Sets PricesThe price is set by the buyer willing to pay the highest priceThe market price will be set by the buyer who can take best advantage of the assetSuperior information about an asset can increase its value by reducing its perceived riskHow the Market Sets PricesInformation is important for individuals to value each asset.When new information is released about a firm, expectations and prices cha