Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies in an Endowment Economy

This paper analyzes and computes the equilibria of economies with large numbers of heterogeneous agents who have different asset trading technologies, preferences and beliefs. We illustrate the value of our method by using it to evaluate the implications of these heterogeneities through several quantitative exercises. (Copyright: Elsevier)

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Authors:	Chien, Yili ; Cole, Harold ; Lustig, Hanno
Published in:	Review of Economic Dynamics. - Society for Economic Dynamics - SED.
Publisher:	Society for Economic Dynamics - SED
Subject:	Portfolio restrictions \| Asset pricing \| Heterogeneous beliefs \| Aggregation

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Type of publication:	Article
Notes:	Forthcoming
Other identifiers:	10.1016/j.red.2015.02.001 [DOI]
Classification:	E13 - Neoclassical ; E32 - Business Fluctuations; Cycles ; G11 - Portfolio Choice ; G21 - Banks; Other Depository Institutions; Mortgages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011262708