This paper shows that under some plausible assumptions about the distributions of returns and the utility functions of the investors the CAPM holds in every single period even if investors have multiperiod diverse investment horizons. This hold even when portfolio returns are dependent over...

In multi-period insurance contract, the premiums that the insured must pay increase whenever he files a claim. Hence in this case the buyer of insurance faces a problem which does not exist in one period contracts. Namely: he must decide for which damages he should file a claim and for which he...