Nath, Hiranya K.; Sarkar, Jayanta - In: Applied Financial Economics Letters 2 (2006) 1, pp. 61-64
This study argues that diminishing marginal impatience ( DMI ) as an intuitively plausible behavioural assumption of endogenous time preference has the potential for resolving important issues like the equity premium puzzle . It shows that, while applied to a model in the traditional overlapping...