Affine Disagreement and Asset Pricing

In a simple cobweb model, we study the dynamics associated with different endogenous switching process based on the path of prices.. We provide an example with an asymmetric

null corresponds to the assumption of perfect independence of the classifications for category i (p.. In case of application of this coefficient to the problem of

There is no systematic study of the rea- sons and causes of disagreements about.. However, if people consider the ethics of payments in terms of voluntary choice or coercion

(2002) in a static setting, we investigate the following issues: 1) Is it possible to de…ne a consensus belief, i.e. a belief which, if held by all individuals, would generate the

Notice that there is no need for all investors to be pessimistic in order to obtain a pessimistic consensus belief, hence an increase of the market price of risk and a decrease of

One might insist that the disagreement between Abelard and Eloise in (15) and (16) is pretty much as faultless as it can get: if Abelard finds it sad – for Joshua, his wife,

An important assumption presented in this work is that “the relation between the predominant perceived tempi and the resonant tempo of the model could be used to predict the

It is easy to see that each inconsistency measure induces a corresponding disagreement measure by taking the multiset union of knowledge bases in the profile.. Proposition 1