unit-record data on home sale prices. We find that homeowners' price beliefs are unbiased at the postcode level, on average …, although there is considerable dispersion in the difference between beliefs and prices across postcodes. Household … characteristics, such as age and tenure, and the regional unemployment rate are correlated with differences between beliefs and prices …

This paper introduces a tractable, structural model of subjective beliefs. Since agents that plan for the future care … overestimate the return of their investment and underdiversify. In general equilibrium, agents' prior beliefs are endogenously … and overoptimistic, and consume more than implied by rational beliefs early in life. Third, in choosing when to undertake …

This paper introduces a tractable, structural model of subjective beliefs. Since agents that plan for the future care … overestimate the return of their investment and under diversify. In general equilibrium, agents’ prior beliefs are endogenously … and overoptimistic, and consume more than implied by rational beliefs early in life. Third, in choosing when to undertake …

learning by policymakers, who update their beliefs on the basis of their own experience and of the policies adopted by other … explains more than 90% of the variability of capital account policies. We find that over time beliefs about the growth effects … have changed slowly and not smoothly from negative to positive. However, at the outset of the Great Recession beliefs on …

conditional probabilities to model the beliefs of the players, Heifetz and Samet avoided using conditional probabilities formally … suggest that the concept of common prior is not appropriate to determine the players' beliefs. Two examples are also given. …

Several axioms concerning probabilistic beliefs are examined here, and the relations between them are established …, using belief spaces that generalize Harsanyi type spaces. Two axioms concerning high-order probabilistic beliefs are …) of one's own beliefs. The second is the averaging axiom, which states that a first order belief concerning some fact F is …

This paper introduces a tractable, structural model of subjective beliefs. Since agents that plan for the future care … overestimate the return of their investment and underdiversify. In general equilibrium, agents' prior beliefs are endogenously … and overoptimistic, and consume more than implied by rational beliefs early in life. Third, in choosing when to undertake …

primitives such as preferences and beliefs. I review strong biological and behavioral evidence indicating that trusting is not … preferences and beliefs, and it suggests ways to examine and interpret a causal role of trust. …