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Estimates of the marginal rate of time preference and average risk aversion of investors in electric utility shares, 1960-66

Litzenberger, Robert H.; Rao, Cherukuri U. - In: The Bell journal of economics and management science 2 (1971), pp. 265-277

Persistent link: https://www.econbiz.de/10002385708

Leverage and the cost of capital in a less developed capital market : comment

Rao, Cherukuri U.; Litzenberger, Robert H.; Sarma, L. … - In: The journal of finance : the journal of the American … 26 (1971) 3, pp. 777-782

Persistent link: https://www.econbiz.de/10002685898

Estimates of the Marginal Rate of Time Preference and Average Risk Aversion of Investors in Electric Utility Shares: 1960-66

Litzenberger, Robert H.; Rao, Cherukuri U. - In: Bell Journal of Economics 2 (1971) 1, pp. 265-277

This paper develops an econometric model of the valuation of electric utility shares. This model, based upon the Sharpe-Lintner capital market theory, yields indirect estimates of the marginal rate of time preference and average risk aversion of investors in electric utility shares during the...

Persistent link: https://www.econbiz.de/10005551051