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Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies in an Endowment Economy

YiLi Chien, Harold Cole and Hanno Lustig

Review of Economic Dynamics, 2016, vol. 20, 215-239

Abstract: This paper analyzes and computes the equilibria of economies with large numbers of heterogeneous agents who have different asset trading technologies, preferences and beliefs. We illustrate the value of our method by using it to evaluate the implications of these heterogeneities through several quantitative exercises. (Copyright: Elsevier)

Keywords: Portfolio restrictions; Asset pricing; Heterogeneous beliefs; Aggregation (search for similar items in EconPapers)
JEL-codes: E13 E32 G11 G21 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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DOI: 10.1016/j.red.2015.02.001

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