The Identification of Beliefs From Asset Demand

S-Tier
Journal: Econometrica
Year: 2017
Volume: 85
Pages: 1219-1238

Authors (2)

Felix Kübler (Universität Zürich) Herakles Polemarchakis (not in RePEc)

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

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.

Technical Details

RePEc Handle
repec:wly:emetrp:v:85:y:2017:i::p:1219-1238
Journal Field
General
Author Count
2
Added to Database
2026-01-25