Li, Gang - In: Studies in Economics and Finance 33 (2016) 3, pp. 338-358
, who cannot observe the expected growth rate of dividends and must learn its value by using noisy information. In addition …, this paper presents a simple model for noisy information calibration. Findings With a coefficient of relative risk aversion … and noisy information. Second, this paper develops a simple calibration procedure to calibrate the information process to …