| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5069880 | Finance Research Letters | 2012 | 10 Pages |
Abstract
⺠We measure ambiguity aversion in a large survey in 45 countries. ⺠Ambiguity aversion is strongly correlated with the equity risk premium. ⺠This gives empirical evidence to theoretical models of the equity premium puzzle. ⺠Ambiguity aversion itself is connected to the “Uncertainty Avoidance Index”. ⺠Cultural factors seem to contribute to the size of the equity premium.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Marc Oliver Rieger, Mei Wang,