# I am the Watcher. I am your guide through this vast new twtiverse.
#
# Usage:
# https://watcher.sour.is/api/plain/users View list of users and latest twt date.
# https://watcher.sour.is/api/plain/twt View all twts.
# https://watcher.sour.is/api/plain/mentions?uri=:uri View all mentions for uri.
# https://watcher.sour.is/api/plain/conv/:hash View all twts for a conversation subject.
#
# Options:
# uri Filter to show a specific users twts.
# offset Start index for quey.
# limit Count of items to return (going back in time).
#
# twt range = 1 1
# self = https://watcher.sour.is/conv/ga2zi3a
2021 年，哪些金融学论文让你印象深刻？**
如果只选一篇的话，我会选 Haddad, Huebner and Loualiche (2021): How Competitive is the Stock Market? Theory, Evidence from Portfolios, and Implications for the Rise of Passive Investing. 这篇 working paper. 个人猜测这篇文章可能是经济学 top 5，而不仅仅是金融学 top.
这篇 wp 进一步 扩展了 Koijen and Yogo (2019, JPE) 构建的 asset demand system. 除了每个投资者特有的、asset characteristic-based demand, 投资者还会对其他投资者的需求变化做出响应：当其他投资者交易更加激进（保守）时，投资者会交易地更加保守（激进）。
巧妙之处在于，利用这样一个看似朴素的设定，作 ... ⌘ Read more