Incentive Constrained Risk Sharing, Segmentation, and Asset Pricing
NBER Working Paper No. 23986
---- Acknowledgments ----
We’d like to thank, for fruitful comments and suggestions, Andrea Attar, Andy Atkeson, Saki Bigio, Jason Donaldson, James Dow, Ana Fostel, Valentin Haddad, Thomas Mariotti, Ed Nosal, Bruno Sultanum, Venky Venkateswaran, and Bill Zame as well as seminar participant at the AQR conference at the LBS, the Banque de France Workshop on Liquidity and Markets, the Finance Theory Group conference at the LSE, the Gerzensee Study Center, MIT, Washington University in St. Louis Olin Business School, the LAEF conference on Information in Financial Markets, EIEF, University of Geneva, and University of Virginia, Princeton University, Penn State, Cornell, University of British Columbia, Simon Fraser University, Federal Reserve Bank of New York, Imperial College, UCL, the 8th Summer Macro-Finance Workshop in Sciences Po, the Federal Reserve Board and the Federal Reserve Bank of Minneapolis. We thank the Bank of France and Institut Europlace de Finance for financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
---- Disclosure of Financial Relationships for Bruno Biais ----
Bruno Biais received funding from the Federation of French Banks, the Europlace Institute of Finance and the European Research Council, and has been a member of the Scientific Committe of the French financial regulator, the Autorité des Marchés Financiers.