The Equity Premium Puzzle and the Riskfree Rate Puzzle
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This paper studies the implications for general equilibrium asset pricing of a recently introduced class of Kreps-Porteus non-expected utility preferences, which is characterized by a constant intertemporal elasticity of substitution and a constant, but unrelated, coefficient of relative risk
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美国国家经济研究局创建时间：
1989-01-01
