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The identification of beliefs from asset demand
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Kubler, Felix and Polemarchakis, H. M. (2015) The identification of beliefs from asset demand. Working Paper. Coventry: University of Warwick. Department of Economics. Warwick economics research papers series (WERPS) (1087). (Unpublished)
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Official URL: https://www2.warwick.ac.uk/fac/soc/economics/resea...
Abstract
The demand for assets as prices and initial wealth vary identifies beliefs
and attitudes towards risk. We derive conditions that guarantee identification with no knowledge either of the cardinal utility index or of the distribution of future endowments or payoffs of assets; the argument applies even if the asset market is incomplete and demand is observed only locally.
Item Type: | Working or Discussion Paper (Working Paper) | ||||
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Subjects: | H Social Sciences > HB Economic Theory | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Assets (Accounting) -- Risk assessment | ||||
Series Name: | Warwick economics research papers series (WERPS) | ||||
Publisher: | University of Warwick. Department of Economics | ||||
Place of Publication: | Coventry | ||||
ISSN: | 0083-7350 | ||||
Official Date: | December 2015 | ||||
Dates: |
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Number: | 1087 | ||||
Number of Pages: | 24 | ||||
Institution: | University of Warwick | ||||
Status: | Not Peer Reviewed | ||||
Publication Status: | Unpublished | ||||
Access rights to Published version: | Restricted or Subscription Access | ||||
Date of first compliant deposit: | 27 January 2016 | ||||
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