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Asset Princes and Wealth Dynamics with Heterogeneous Beliefs - Varlýk Fiyatlarý ve Heterojen Düþünceler ile Servet Dinamikleri

Author

Listed:
  • Timothy COGLEY
  • Thomas J. SARGENT
  • Viktor TSYRENNIKOV

Abstract

Biz, bu makalede hibeler, öncellerin (priors) ve bilgi akýþlarýnýn özdeþ kalýplarýyla ancak tam piyasalar ve tüketicilerin sadece tekil risksiz tahvillerle iþlem yapabildikleri iki farklý piyasa yapýlarý ile risk piyasa fiyatlarýný karþýlaþtýracaðýz. Makalede spekülasyon fýrsatlarýnýn, olaðandýþý önceki olaylarýn ve öðrenmenin risk piyasa fiyatlarýný nasýl etkilediði incelenmektedir. Ýki tip tüketici, rastgele bir dýþ kaynaklý hibe konusunda devinim yasalarý ile ilgili çeþitli inançlara sahiptirler. Birinci tip tüketici devinim yasalarýný biliyorken, diðer tip tüketici Bayes’in teoremi üzerinden bu yasayý öðrenmektedir. Az bilgili tüketici, baþlangýçta yýkýcý durumun olasýlýðýný abartmasýndan dolayý kötümserdir. Tüketicileri harekete geçiren öðrenme dinamikleri ve servet dinamikleri, piyasa yapýlarý arasýndaki risk piyasa fiyatlarýndaki evrimin farklýlýklarýna katký saðlamaktadý.

Suggested Citation

  • Timothy COGLEY & Thomas J. SARGENT & Viktor TSYRENNIKOV, 2015. "Asset Princes and Wealth Dynamics with Heterogeneous Beliefs - Varlýk Fiyatlarý ve Heterojen Düþünceler ile Servet Dinamikleri," Journal of Economics Bibliography, EconSciences Journals, vol. 2(1), pages 29-34, March.
    • Handle: RePEc:cvv:journ6:v:2:y:2015:i:1:p:29-34
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