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• W1883443306 abstract "This paper develops a dynamic equilibrium model where agents exhibit a strong form of belief heterogeneity: they disagree about zero probability events. It is shown that, somewhat surprisingly, equilibrium exists in this setting, and that the disagreement about nullsets naturally leads to equilibrium asset pricing bubbles. The bubbles are subjective in the sense that they are perceived by some but not necessarily all agents. In contrast to existing models, bubbles arise with no restrictions on trade beyond a standard solvency constraint." @default.
• W1883443306 created "2016-06-24" @default.
• W1883443306 creator A5082219885 @default.
• W1883443306 date "2013-06-21" @default.
• W1883443306 modified "2023-09-22" @default.
• W1883443306 title "Non-Equivalent Beliefs and Subjective Equilibrium Bubbles" @default.
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• W1883443306 hasPublicationYear "2013" @default.
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