The equity premium puzzle is one of the most important phenomena in finance. Related to behavioral finance, we use the concept of Myopic Loss Aversion (MLA) to explain the puzzle in developed and emerging markets. Empirically, we support the robustness of the positive equity premium across the...

This paper attempts to answer the question of what made the Turkish threats in the 1998 October crisis with Syria different from all others made over the last two decades; and what were the main reasons for Hafez Assad's capitulation vis-à-vis Turkish demands. Using the prospect theory, this...