Imperfect Information and Investor Heterogeneity in the Bond Market

Imperfect Information and Investor Heterogeneity in the Bond Market
Author :
Publisher : Springer Science & Business Media
Total Pages : 119
Release :
ISBN-10 : 9783642576638
ISBN-13 : 364257663X
Rating : 4/5 (38 Downloads)

Book Synopsis Imperfect Information and Investor Heterogeneity in the Bond Market by : Frank Riedel

Download or read book Imperfect Information and Investor Heterogeneity in the Bond Market written by Frank Riedel and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real world investors differ in their tastes and attitudes and they do not have, in general, perfect information about the future prospects of the economy. Most theoretical models, however, assume to the contrary that investors are homogeneous and perfectly informed about the market. In this book, an attempt is made to overcome these shortcomings. In three different case studies, the effect of heterogeneous time preferences, heterogeneous beliefs and imperfect information about the economy's growth on the term structure of interest rates are studied. The initial chapter gives an introduction to the theory of financial markets in continuous time under imperfect information and establishes the existence of an equilibrium with complete markets.


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