Bubbles, Crises, and Heterogeneous Beliefs

Wei Xiong

No 18905, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper reviews the quickly growing literature that builds on heterogeneous beliefs, a widely observed attribute of individuals, to explain bubbles, crises, and endogenous risk in financial markets.

JEL-codes: G01 G02 G1 G12 (search for similar items in EconPapers)
Date: 2013-03
Note: AP
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Citations: View citations in EconPapers (64)

Published as Bubbles, Crises, and Heterogeneous Beliefs pp. 663-713 24 - Bubbles, Crises, and Heterogeneous Beliefs pp. 663-713 Bubbles, Crises, and Heterogeneous Beliefs By Wei Xiong View chapter as PDF Handbook on Systemic Risk

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