NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Disagreement and Asset Prices

Bruce I. Carlin, Francis A. Longstaff, Kyle Matoba

NBER Working Paper No. 18619
Issued in December 2012

---- Acknowledgements -----

We would like to thank Karen Chaltikian, Anna Cieslak, Andrea Eisfeldt, Mark Grinblatt, Chris Hrdlicka, Terry Nercessian, Praveen Kumar, Hanno Lustig, Jeff Pontiff, Mike Rierson, Jules van Binsbergen, and Jialin Yu, and seminar participants at the University of Houston for their helpful insights and suggestions. All errors are our responsibility. All authors are from the Anderson School of Management at the University of California, Los Angeles, 110 Westwood Plaza, Los Angeles, CA 90095. The corresponding authors are Bruce Carlin (bruce.carlin@anderson.ucla.edu) and Francis Longstaff(francis.longstaff@anderson.ucla.edu). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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