Speculative Investor Behavior in a Stock Market With Heterogeneous Expectations......... Consider a common stock that pays dividends at a discrete sequence of future times: t = 1, 2,... Taking all other prices and the random process that determine future dividends as endogenously given, we can ask what will be the price of the stock?
H/T noahpinionblog.blogspot.com
Speculative Investor Behavior by ValueWalk.com
