Myopic loss aversion and the equity premium puzzle reconsidered |
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| Authors: | Robert B. Durand Paul Lloyd Hong Wee Tee |
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| Affiliation: | University of Western Australia, 35 Stirling Highway, Crawley, WA 6009, Australia |
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| Abstract: | Benartzi and Thaler [The Quarterly Journal of Economics 110 (1995) 73–92] offer a quasi-rational explanation for the equity premium puzzle. We reconsider their methodology and, making a simple modification to it, find that their analysis is not robust. |
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| Keywords: | Equity premium Prospect theory |
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