Unbiased Estimators of Long-Run Expected Returns Revisited
系统研究了N期平均回报无偏估计量的识别问题，并提出一种新的无偏估计量，该估计量方差接近最小且计算简便，也适用于其他复合增长过程。
In this paper, a general treatment of identifying the set of unbiased estimators of N-period mean returns is advanced and a new unbiased estimator, which promises near-minimum variance and minimal computation, is formulated. The new estimator is also equally applicable to other processes of compound growth.