TEL  Vol.2 No.5 , December 2012
Asset Pricing with Relative Performance and Heterogeneous Agents
This paper studies the impact of relative performance on portfolio choices and asset prices when fund managers differ in size and exogenous financial shocks. We find that with these heterogeneities, fund managers change their trading behaviors significantly.

Cite this paper
T. Levy, X. Liu, Z. Liu and Z. Qiu, "Asset Pricing with Relative Performance and Heterogeneous Agents," Theoretical Economics Letters, Vol. 2 No. 5, 2012, pp. 520-523. doi: 10.4236/tel.2012.25096.
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