Paper on DMs betting against an unobservable martingale

[g charles]

Hi All:

Please find attached a shortened version of a work-in-progress that tries to model a decision maker's (DM's) betting against an unobservable martingale. The canonical behaviour is betting against the stock market. If anyone has work  of their own or knows of any references that bears on the issue(s), that I should look at please inbox me . Thanks

Best wishes,

G. Charles