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We answer this question by comparing the risk-neutral density estimated in complete markets from cross-section of S&P 500 option prices to the risk-neutral density inferred from the time series density of the S&P 500 index. If investors are risk-averse, the latter density is different from the actual density that could be inferred from the time series of S&P 500 returns. Naturally, the...
Set the date range to filter the displayed results. You can set a starting date, ending date or both. You can enter the dates manually or choose them from the calendar.