---
title: Asset Pricing and Stochastic Discount Factors
url: https://www.ml-quant.com/papers/ssrn/4465240/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4465240
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4465240
featured: 2025-12-28
citations: unknown
topic: Asset Pricing & Factors
---


# Asset Pricing and Stochastic Discount Factors

The paper outlines the required conditions for modeling stock prices with characteristics-based factor portfolios, addressing covariate structure issues.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4465240
- Identifier: SSRN 4465240
- Released: 2023-05-31
- First featured: Quant Letter No. 124 (2025-12-28): https://www.ml-quant.com/issues/2025-12-28/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Asset Pricing & Factors

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