Asymmetric Information, Heterogeneous Belief and Risky Asset Pricing

摘要：

　　In this paper,we put forward the assumption that investors have asymmetric information and heterogeneous belief and derive an asset pricing model.The model suggests the extent of asymmetric information or heterogeneous belief is positively correlated with the risky asset price,which matches the former empirical research.

关键词： Asymmetric information Heterogeneous belief Risky asset pricing

作者: Xiaoqiang Yu Shancun Liu

作者单位: School of Economics and Management, Beihang University, 37 Xueyuan road, Beijing 100191, P.R.China

会议类型: 国际会议

会议名称: the 2012 International Conference on Frontiers of Advanced Materials and Engineering Technology (2012年先进材料与工程技术国际会议(FAMET 2012))

会议地点: 厦门

会议语种:英文

页码: 1095-1098

在线出版日期: 2012-01-04（万方平台首次上网日期，不代表论文的发表时间）