2 papers
q-fin.GN2019
Stability of Equilibrium Asset Pricing Models: A Necessary and Sufficient Condition
Jaroslav Borovicka, John Stachurski
We obtain an exact necessary and sufficient condition for the existence and uniqueness of equilibrium asset prices in infinite horizon, discrete-time, arbitrage free environments.…
q-fin.MF2014
Misspecified Recovery
Jaroslav Borovička, Lars Peter Hansen, José A. Scheinkman
Asset prices contain information about the probability distribution of future states and the stochastic discounting of those states as used by investors. To better understand the c…