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    Chapter and Conference Paper

    Rational Expectations and Perfect Foresight Prices

    Shiller’s notion of perfect foresight prices is adapted to a crossectional study of 400 firms. Distribution-free statistics, which are unencumbered by the restrictive assumptions underlying parametric methods ...

    G. C. Uselton, D. R. Fraser in A Reappraisal of the Efficiency of Financial Markets (1989)