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Book synopsis

'After a brief review of the existing incomplete information literature, the effect of incomplete information on investors' exptected utility, risky asset prices, and interest rates is described. It is demonstrated that increasing the quality of investors' information need not increase their expected utility and the prices of risky assets. The impact of other factors is discussed in detail. It is also demonstrated that financial markets in general do not aggregate information efficiently, a fact that can explain the equity premium puzzle.

Book details

Book category Books in English Economics, finance, business & management Business & management

• Full title: Incomplete Information and Heterogeneous Beliefs in Continuous-time Finance
• Author: Alexandre C. Ziegler
• Language: English
• Binding: Paperback
• Number of pages: 198
• EAN: 9783642055676
• ISBN: 3642055672
• ID: 02780973
• Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
• Weight: 338 g
• Dimensions: 235 × 155 × 12 mm
• Date of publishing: 21. October 2010

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