conflict-ex-ante risk and ex-post risk

is ex-ante risk higher or ex-post risk higher? survey data volatility is higher or lower compared with actual data?

ex post returns are lower and risk is higher

no, as I understand, ex-ante risk is higher, I checked with my teacher, unless you provide the text reference.

using survey data will over-estimate risk

ex ante risk is higher than would be shown in ex post figures. The unknowns of today, eurpoean debt crisis etc…, will not appear as risky on an ex post basis.

If I’m wrong correct me please, but this is my understanding.

i think it is the other way around

looking backwards, risk was greater than what we thought, so risk is higher on ex-post basis

Does it depend on the economic condition? Ex ante risk is higher in the recession?

ex-ante risk higher . ex-post predicted extreme events do not materialize , so ex-post risk appears less . This misleads researchers who attribute a smaller risk premium than was factored in in the past

Agree with janakisri. We do not know risks faced by investors on ex-ante basis. Ex-post basis is on past data. The may not reflect un-materialized risk events that ex-ante investors faced.