Results 151 to 160 of about 33,816 (196)
The peer effects of resident stock market participation: Evidence from 2019 CHFS. [PDF]
PLoS OneLin Z, Kong M, Li G, Wang X.
europepmc +1 more source
Beyond the Surface: A New Perspective on Dual-System Theories in Decision-Making. [PDF]
Behav Sci (Basel)Hochman G.
europepmc +1 more source
Myopic Loss Aversion and the Equity Premium Puzzle [PDF]
Quarterly Journal of Economics, 1995 Summary: The equity premium puzzle refers to the empirical fact that stocks have outperformed bonds over the last century by a surprisingly large margin. We offer a new explanation based on two behavioral concepts. First, investors are assumed to be ``loss averse'', meaning that they are distinctly more sensitive to losses than to gains.
Shlomo Benartzi
exaly +2 more sources
Equity premium puzzle or faulty economic modelling? [PDF]
Review of Quantitative Finance and Accounting, 2020 In this paper, we revisit the equity premium puzzle reported in 1985 by Mehra and Prescott. We show that the large equity premium that they report can be explained by choosing a more appropriate distribution for the return data. We demonstrate that the high-risk aversion value observed by Mehra and Prescott may be attributable to the problem of fitting
Abootaleb Shirvani +2 more
exaly +3 more sources
Some of the next articles are maybe not open access.
Related searches:
Related searches:
Mortgage payments and equity premium puzzle
The Quarterly Review of Economics and Finance, 2020The equity premium puzzle argues that equity risk alone is insufficient to justify observed equity premiums with a reasonable value of risk aversion. Mortgages account for a substantial part of household debt, it is thus necessary to take the mortgage payment obligations into consideration when addressing the puzzle.
Tien Foo Sing, Yiheng Zou
openaire +1 more source
The Equity Premium is No Puzzle
SSRN Electronic Journal, 1996We examine the equity premium puzzle with the perspective of the theory of Rational Beliefs Equilibrium (RBE) and show that from the perspective of this theory there is no puzzle. In an RBE agents need to be compensated for the endogenously propagated price uncertainty which is not permitted under rational expectations.
Mordecai Kurz, Andrea Beltratti
openaire +1 more source
The Private Equity Premium Puzzle [PDF]
SSRN Electronic Journal, 2001 We document that investment in private equity is extremely concentrated. Yet despite the very poor diversification of entrepreneurs' portfolios, we find that the returns to private equity are surprisingly low. Given the large premium required by investors in public equity, it is puzzling why households willingly invest substantial amounts in a single ...
TOBIAS J. MOSKOWITZ +1 more
openaire +1 more source
Disaggregation and the equity premium puzzle
Journal of Empirical Finance, 2020Abstract Standard macroeconomic models cannot explain why stocks so greatly outperform bonds. However, this result depends on the use of aggregate consumption data. If markets are incomplete, then a representative agent might not exist and it is necessary to use consumption data at the household rather than aggregate level.
openaire +1 more source