Napp, Clotilde; Jouini, Elyes - In: Revue d'Économie Financière 74 (2004) 1, pp. 125-137
[eng] Beliefs' heterogeneity, risk premium and volatility . This article analyses introducing of subjective and heterogeneous beliefs in traditional equilibrium model. The authors assume heterogeneous beliefs and answer the questions : 1 - is there a consensual belief which implies same...