near-rational solution allows the asset price to occasionally dip below its fundamental value. Under mild risk aversion …

) discount rate model, which rules out risk premia, and therefore provides a useful benchmark. ; The main result is that a … prices. In the CCAPM this requires very curved indifference curves (i.e., a large coefficient of relative risk aversion …

from their stock (and bond) prices would take less risk than non-publicly traded banks because counterparties, borrowers …, and regulators could react to adverse public market signals against publicly traded banks. In comparing the credit risk …, earnings risk, capitalization, and failure risk between publicly traded and non-publicly traded banks, the evidence in this …