• Heterogeniety and limited stock market participation 

      Aase, Knut K. (Discussion paper;05/14, Working paper, 2014-02)
      We derive the equilibrium interest rate and risk premiums using recursive utility with heterogeneity in a continuous time model. Two ordinally equivalent versions are considered, each associated with a di erent set of ...
    • Recursive utility and disappearing puzzles for continuous-time models 

      Aase, Knut K. (Discussion papers;2013/02, Working paper, 2013-05)
      Motivated by the problems of the conventional model in rational- izing market data, we derive the equilibrium interest rate and risk premiums using recursive utility in a continuous time model. Two ordinally equivalent ...