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@inproceedings{Beaumont2007AssetPD, title={Asset price dynamics with heterogeneous beliefs ?}, author={Paul M. Beaumont and A. J. Culham and Alec N. Kercheval}, year={2007} }

- Published 2007

We examine market dynamics in a Lucas-style, asset-pricing model with heterogeneous traders who know the distribution of dividends but not the private information of other traders. Agents optimize a CRRA utility function while learning about aggregate states in order to better estimate the equilibrium pricing function. Our goal is to determine whether and… CONTINUE READING

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