期刊名称：Journal on Innovation and Sustainability. RISUS ISSN 2179-3565
印刷版ISSN：2179-3565
出版年度：2015
卷号：6
期号：1
页码：48-57
语种：English
出版社：RISUS. Revista de Innovación y Sustentabilidad ISSN 2179-3565
摘要：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.
关键词：ex-post, ex-ante, realized value, expected value
