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exposed to misinformation regarding dividend payouts in a previous game, with the correct dividend matrix also provided. The … (heterogeneously). RESULTS: Homogenous misinformation stating that the last game’s dividend payouts were high, led to larger … treatments. It was also discovered that agents receiving the ‘high dividend’ misinformation had lower returns than non …
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This paper investigates the asset pricing implications of investor disagreement about the likelihood of a systematic disaster. I specify a general equilibrium model with multiple trees and heterogeneous beliefs about rare event risk, to understand how risk-sharing mechanisms affect equity and...
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conditions under which the variation in a small asset's price-dividend ratio can be attributed almost entirely to variation in …
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conditions under which the variation in a small asset's price-dividend ratio can be attributed almost entirely to variation in …
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