Tom Smith

• [2004 JFE] 做市商的价差里，藏着一份「到期日不确定」的期权Modeling the Bid/ask Spread: Measuring the Inventory-holding PremiumJun 2026
• [1993 JFE] 风险溢价真的永远为正吗？——一个把「不等式」搬进资产定价检验的新办法Is the Ex Ante Risk Premium Always Positive?: A New Approach to Testing Conditional Asset Pricing ModelsSep 1993
• [1992 JFE] 十个不等号的审判：当 t 值说『不单调』，联合检验却说『证据不足』The Monotonicity of the Term Premium: Another LookJun 1992