Divergence of Opinion in Complete Markets: A Note
- 1 March 1985
- journal article
- Published by JSTOR in The Journal of Finance
- Vol. 40 (1) , 309-317
- https://doi.org/10.2307/2328062
Abstract
We consider an Arrow-Debreu model with agents who have different subjective probabilities. In general, asset prices will depend only on aggregate consumption and the distribution of subjective probab...Keywords
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