Multi-Beta CAPM or Equilibrium-APT?: A Reply

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  • JAY SHANKEN

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    • School of Business Administration, University of California. Thanks to S. Bhattacharya, G. Connor, H. Johnson, M. Latham, J. Ohlson, S. Ross, L. Senbet, M. Sperling, and A. Tajirian for valuable comments.

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