In the fields of behavioural economics and finance, several researchers show that the time preference of an investor is related to his/her attitude towards risky assets. This article investigates whether the equity premium puzzle laid out in Mehra and Prescott (1985) can be accounted for when...

This paper investigates executive earnings-based bonuses in a general equilibrium economy. Unlike the existing study, combining the two frameworks in the fields of accounting and economics allows us to examine different earnings characteristics determined by the correlation between...