Speculative Investor Behavior in a Stock Market with Heterogeneous Expectations
J. Michael Harrison, David M. Kreps
The Quarterly Journal of Economics · 1978 · Volume 92 · Issue 2
Abstract
I. Introduction, 323.—II. Formulation, 325.—III. An example, 326.—IV. Consistent price schemes, 328.—V. Back to the example, 332.—VI. Relaxing the assumptions, 333.—VII. Concluding remarks, 334.
Enable JavaScript for citation tools and additional paper interactions.