Supplement to "Belief heterogeneity in the Arrow-Borch-Raviv insurance model"
AbstractThis paper is a supplement to Ghossoub . In this supplement, some of the results of Ghossoub , as well as the techniques used to obtain these result are extended to a more general problem of demand for contingent claims with belief heterogeneity. Moreover, a general problem of monotone comparative statics under heterogeneous uncertainty is examined, and I show how the idea of vigilance can be used to obtain a monotone comparative statics result in this case.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 37717.
Date of creation: 10 Jun 2010
Date of revision: 22 Mar 2012
Subjective Probability; Heterogeneous Beliefs; Vigilance; Contingent Claims; Monotone Likelihood Ratio; Monotone Comparative Statics;
Find related papers by JEL classification:
- D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
- C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools
- C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
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