X-CAPM: An Extrapolative Capital Asset Pricing Model
NBER Working Paper No. 19189
---- Acknowledgements -----
We are grateful to seminar participants at Dartmouth College, the London Business School, the London School of Economics, Oxford University, the University of Southern California, and Yale University for useful feedback; and also to Jonathan Ingersoll for many helpful conversations. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.