Does Belief Heterogeneity Explain Asset Prices: The Case of the Longshot Bias

DOI10.1093/restud/rdu017zbMath1405.91616OpenAlexW2122058073MaRDI QIDQ4610708

Ricardo Serrano-Padial, Amit Gandhi

Publication date: 23 January 2019

Published in: The Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1093/restud/rdu017

zbMATH Keywords

heterogeneityrational expectationsprospect theoryrisk preferencesdemand estimationrandom utilitynoise tradersfavourite-longshot

Mathematics Subject Classification ID

Utility theory (91B16) Derivative securities (option pricing, hedging, etc.) (91G20)

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