FELDMAN, DAVID - In: Journal of Finance 44 (1989) 3, pp. 789-812
type="main" xml:lang="en" <title type="main">ABSTRACT</title> <p>This paper investigates the term structure of interest rates in a multiperiod production and exchange economy with incomplete information. Unable to observe their stochastic investment opportunities, investors engage in dynamic Bayesian inference. This results...</p>