Sharing idiosyncratic risk even though prices are “wrong”

• المؤلفون الرئيسيون: Halim, Edward, Riyanto, Yohanes Eko, Roy, Nilanjan
• مؤلفون آخرون: School of Social Sciences
• التنسيق: مقال
• اللغة: English
• منشور في: 2022
• الموضوعات: Social sciences::Economic theory; Aggregate Risk; Idiosyncratic Risk
• الوصول للمادة أونلاين: https://hdl.handle.net/10356/163938

We design an infinite-horizon dynamic asset market experiment with perishable consumption and a long-lived asset where gains from trade originate from individuals experiencing idiosyncratic income shocks. Our study is based on the consumption-based general equilibrium theory (Lucas (1978)). The pres...