The demand for assets as prices and initial wealth vary identifies beliefs and attitudes towards risk. We derive conditions that guarantee identification with no knowledge either of the cardinal utility index (attitudes towards risk) or of the distribution of future endowments or payoffs of assets; the argument applies even if the asset market is incomplete and demand is observed only locally.
MLA
Kübler, Felix, and Herakles Polemarchakis. “The Identification of Beliefs from Asset Demand.” Econometrica, vol. 85, .no 4, Econometric Society, 2017, pp. 1219-1238, https://doi.org/10.3982/ECTA13880
Chicago
Kübler, Felix, and Herakles Polemarchakis. “The Identification of Beliefs from Asset Demand.” Econometrica, 85, .no 4, (Econometric Society: 2017), 1219-1238. https://doi.org/10.3982/ECTA13880
APA
Kübler, F., & Polemarchakis, H. (2017). The Identification of Beliefs from Asset Demand. Econometrica, 85(4), 1219-1238. https://doi.org/10.3982/ECTA13880
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