---
title: The CAPM, APT, and PAPM
url: https://www.ml-quant.com/papers/ssrn/4566414/
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 4566414
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4566414
featured: 2023-09-14
citations: 1
topic: Asset Pricing & Factors
---


# The CAPM, APT, and PAPM

CAPM, APT, and PAPM: The Popularity Asset Pricing Model (PAPM) improves on the Capital Asset Pricing Model (CAPM) by considering investor preferences and beliefs, addressing CAPM's empirical limitations.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4566414
- Identifier: SSRN 4566414
- Released: 2023-09-08
- First featured: Quant Letter No. 15 (2023-09-14): https://www.ml-quant.com/issues/2023-09-14/
- Citations (Semantic Scholar): 1
- Published in: not yet
- Topic: Asset Pricing & Factors

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