{"product_id":"incomplete-information-and-heterogeneous-beliefs-alexandre-c-ziegler-9783540003441","title":"Incomplete Information and Heterogeneous Beliefs in Continuous-Time Finance","description":"\u003cp\u003eAfter 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.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Alexandre C. Ziegler\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 3540003444\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9783540003441\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Springer\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 02\/26\/2003\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 198\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.94lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.41h x 6.47w x 0.67d","brand":"Alexandre C. Ziegler","offers":[{"title":"Hardcover","offer_id":44058416611583,"sku":"9783540003441","price":219.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_268c6db9-3b6e-4c3a-8589-843ad8e4fbf3.jpg?v=1685052440","url":"https:\/\/www.whiterainbookhouse.com\/products\/incomplete-information-and-heterogeneous-beliefs-alexandre-c-ziegler-9783540003441","provider":"WR Book House","version":"1.0","type":"link"}