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- · 2024年10月17日

请问B选项的中文是什么意思?

NO.PZ2024022701000108

问题如下:

A feature of an efficient market is that:

选项:

A.the market reflects all past and present information.

B.asset prices react to information that is fully anticipated.

C.an investor can earn consistent, superior, risk-adjusted returns.

解释:

Solution
  1. Correct because an efficient market is thus a market in which asset prices reflect all past and present information.

  2. Incorrect because in an efficient market, prices should be expected to react only to the elements of information releases that are not anticipated fully by investors—that is, to the “unexpected” or “surprise” element of such releases.

  3. Incorrect because consistent, superior, risk-adjusted returns (net of all expenses) are not achievable in an efficient market.

Market Efficiency

Fully anticipated?在这句话里的具体意思是指?

1 个答案

王园圆_品职助教 · 2024年10月18日


同学你好,B选项的意思是,有效市场是指价格只会对投资者已经充分预期到的消息进行反映——这是错的,请看以下讲义截图蓝色部分,就是本题对应的内容,价格应该是只会对”未预期到的“信息做出反映才叫做有效市场。

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