Christian Heyerdahl-Larsen, Philipp Illeditsch Dec 13,2019
We develop an overlapping generations model with disagreement about the cross-sectional distribution of investors’ preferences and beliefs. This disagreement implies... Read More
Alice Hsiaw, Ing-Haw Cheng Dec 14,2018
Why do individuals interpret the same information differently? We propose that individuals follow Bayes' Rule when forming posteriors with one exception:... Read More