International Evidence on the Equity Premium Puzzle and Time Discounting

We examine time discounting factors in an international survey. Our analysis reveals a significant relationship between time discount factors and historical equity premiums across 27 countries. This result implies that higher historical equity risk premiums are observed in countries where survey participants tend to be more short-term oriented. This finding is consistent with the explanation of the equity premium puzzle provided by myopic loss aversion

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Year of publication:	2017
Authors:	Rieger, Marc Oliver
Other Persons:	Wang, Mei (contributor) ; Hens, Thorsten (contributor)
Publisher:	[2017]: [S.l.] : SSRN
Subject:	Equity-Premium-Puzzle \| Equity premium puzzle \| Risikoprämie \| Risk premium \| Welt \| World \| Kapitaleinkommen \| Capital income \| Intertemporale Entscheidung \| Intertemporal choice \| Diskontierung \| Discounting \| Risikoaversion \| Risk aversion \| CAPM

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Extent:	1 Online-Ressource (15 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Multinational Finance Journal, Vol. 17, No. 3/4, p. 149-163, 2013 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 17, 2015 erstellt
Classification:	g02 ; G11 - Portfolio Choice ; D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	ECONIS - Online Catalogue of the ZBW

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