本次美国代写主要为行为经济学相关的限时测试
问题1：
这是两个事件研究的输出，即来自一些的累积异常回报 (CAR)
事件之前的日期到事件之后的某个日期。
(a) 假设使用了正确的 E[R] 模型，结果（右图，左图，
或两者都不是）与半强 EMH 一致？用 3 句话或更少的句子解释。 (2 分)
(b) 假设使用了不正确的风险模型，我们能否得出关于该风险的任何结论？
任一图中的半强 EMH 的有效性？用 3 句话或更少的句子解释。 (2
点）
问题2：
回想一下我们在课堂上讨论的 PC Mall，UBID 示例，其中套利交易让我们做空
.71 股 UBID（价值 25.55 美元）和 1 股 PC Mall（价值 22.75 美元）。进一步假设
PC Mall 的 beta 为 1.01，UBID 的 beta 为 0.9。以下哪些是主要的
套利者在此类交易中面临的风险？圈出所有适用的内容并用 5 句话解释或
少（3 分）：
(a) 召回风险（又名“买入风险”）
(b) 市场风险
(c) 噪音交易者风险
解释：
Problem 1:
Here is the output of two event studies, i.e., Cumulative Abnormal Returns (CARs) from some
date before the event through some date after the event.
(a) Assuming that the correct E[R] model was used, which result (right graph, left graph, both
or neither) is consistent with semi-strong EMH? Explain in 3 sentences or less. (2 points)
(b) Assuming that an incorrect risk model was used, can we reach any conclusions about the
validity of the semi-strong EMH from either graph? Explain in 3 sentences or less. (2
points)
Problem 2:
Recall the PC Mall, UBID example we discussed in class where the arbitrage trade had us short
.71 shares of UBID (worth $25.55) and long 1 share of PC Mall (worth $22.75). Suppose further
that PC Mall had a beta of 1.01 and UBID had a beta of .9. Which of the following are major
risks that an arbitrageur faces in such a trade? Circle all that apply and explain in 5 sentences or
less (3 points):
(a) Recall risk (a.k.a. “buy in risk”)
(b) Market risk
(c) Noise trader risk
Explain: