Jouini, Elyès; Napp, Clotilde - Université Paris-Dauphine (Paris IX) - 2009
Can investors with irrational beliefs be neglected as long as they are rational on average ? Does unbiased disagreement … this paper that there is an important impact of unbiased disagreement on the behavior of financial markets, even though the … markets and only result from the introduction of unbiased disagreement. …