The existing real options literature explains the value premium as a consequence of either operating leverage raising risk in low-demand states or industry-wide investment lowering risk in high-demand states. This paper presents a simple model in which a value premium arises solely from capacity...

Associate Professor Martin Lally presented Forward Looking Estimates of the Market Risk Premium at the half-day Regulatory Cost of Capital II: What is the Market Risk Premium? Copies of Martins underlying papers on the topics can be obtained by contacting him at martin.lally@vuw.ac.nz

Slides by Associate Professor Alastair Marsden of the Business School at the University of Auckland, presented Historical and Siegel Estimates of the Market Risk Premium in New Zealand at the half-day Regulatory Cost of Capital II: What is the Market Risk Premium?

Professor Glenn Boyle presented The Regulatory Cost of Capital II: What is the Market Risk Premium? at the half-day Regulatory Cost of Capital II: What is the Market Risk Premium? seminar.