Get access

The Effects of Presentation Salience and Measurement Subjectivity on Nonprofessional Investors' Fair Value Judgments


  • Accepted by Susan Krische. We thank Sarah Bonner, Larry Brown, Damon Fleming, Stacy Hawkins, Karla Johnstone, Lisa Koonce, Susan Krische, Brian Mayhew, Mark Nelson, Ray Pfeiffer, Kristina Rennekamp, Nick Seybert, Hollis Skaife, Dan Wangerin, two anonymous reviewers, and workshop participants at Boston College, Georgia State University, San Diego State University, the University of Southern California, and the University of Wisconsin – Madison for helpful comments. We thank the Wisconsin School of Business at the University of Wisconsin – Madison for its generous financial support. Terry Warfield acknowledges the financial support of the Arthur Andersen Center. We thank Abbie Daly, Matt Junemann, and Kristina Rennekamp for their research assistance.