The Equity Premium in Retrospect
E802232
"The Equity Premium in Retrospect" is a highly influential paper by John Cochrane that surveys and analyzes the historical equity premium puzzle and its implications for asset pricing theory.
All labels observed (1)
| Label | Occurrences |
|---|---|
| The Equity Premium in Retrospect canonical | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T9486432 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: The Equity Premium in Retrospect Context triple: [John Cochrane, notableWork, The Equity Premium in Retrospect]
-
A.
Lucas asset pricing model
The Lucas asset pricing model is a foundational rational expectations framework in macro-finance that explains asset prices through representative-agent intertemporal consumption choices under uncertainty.
-
B.
“Liquidity Preference as Behavior Towards Risk”
“Liquidity Preference as Behavior Towards Risk” is a seminal 1958 paper by economist James Tobin that reformulates Keynesian liquidity preference theory using modern portfolio theory to explain money demand as a response to risk and uncertainty.
-
C.
Fama–French three-factor model
The Fama–French three-factor model is a widely used asset pricing framework that extends the traditional CAPM by explaining stock returns through market risk, company size, and value factors.
-
D.
Fisherian intertemporal choice theory
Fisherian intertemporal choice theory is an economic framework, developed by Irving Fisher, that explains how rational individuals allocate consumption and savings over time to maximize lifetime utility given their income, preferences, and interest rates.
-
E.
Inequality Reexamined
Inequality Reexamined is a philosophical and economic work by Amartya Sen that critically analyzes traditional views of inequality and justice through his capabilities approach.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: The Equity Premium in Retrospect Target entity description: "The Equity Premium in Retrospect" is a highly influential paper by John Cochrane that surveys and analyzes the historical equity premium puzzle and its implications for asset pricing theory.
-
A.
Lucas asset pricing model
The Lucas asset pricing model is a foundational rational expectations framework in macro-finance that explains asset prices through representative-agent intertemporal consumption choices under uncertainty.
-
B.
“Liquidity Preference as Behavior Towards Risk”
“Liquidity Preference as Behavior Towards Risk” is a seminal 1958 paper by economist James Tobin that reformulates Keynesian liquidity preference theory using modern portfolio theory to explain money demand as a response to risk and uncertainty.
-
C.
Fama–French three-factor model
The Fama–French three-factor model is a widely used asset pricing framework that extends the traditional CAPM by explaining stock returns through market risk, company size, and value factors.
-
D.
Fisherian intertemporal choice theory
Fisherian intertemporal choice theory is an economic framework, developed by Irving Fisher, that explains how rational individuals allocate consumption and savings over time to maximize lifetime utility given their income, preferences, and interest rates.
-
E.
Inequality Reexamined
Inequality Reexamined is a philosophical and economic work by Amartya Sen that critically analyzes traditional views of inequality and justice through his capabilities approach.
- F. None of above. chosen
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
academic paper
ⓘ
finance research article ⓘ |
| addresses |
calibration of asset pricing models
ⓘ
difference between stock returns and risk-free returns ⓘ empirical validation of asset pricing theories ⓘ |
| aimsTo |
assess implications for macroeconomic modeling
ⓘ
clarify the magnitude of the equity premium ⓘ evaluate proposed resolutions of the equity premium puzzle ⓘ |
| analyzes |
consumption-based models
ⓘ
historical equity premium data ⓘ implications for asset pricing theory ⓘ representative agent models ⓘ |
| author |
John H. Cochrane
ⓘ
linked to:
John Cochrane
|
| citedFor |
comprehensive overview of the equity premium puzzle
ⓘ
critical evaluation of asset pricing models ⓘ |
| concludes |
risk aversion required by standard models is implausibly high
ⓘ
standard models struggle to match observed equity premium ⓘ |
| discusses |
habit formation models
ⓘ
implications for macro-finance models ⓘ implications for portfolio choice ⓘ long-run risk models ⓘ market incompleteness ⓘ measurement issues in historical returns ⓘ rare disaster models ⓘ survivorship bias in return data ⓘ |
| field |
asset pricing
ⓘ
financial economics ⓘ macroeconomics ⓘ |
| focusesOn | U.S. historical return data ⓘ |
| genre |
survey article
ⓘ
theoretical analysis ⓘ |
| hasInfluenceOn |
asset pricing theory
ⓘ
macroeconomic asset pricing models ⓘ subsequent equity premium research ⓘ |
| influencedBy |
Mehra and Prescott equity premium puzzle
ⓘ
consumption-based CAPM literature ⓘ |
| language | English ⓘ |
| mainTopic |
asset pricing puzzles
ⓘ
consumption-based asset pricing ⓘ equity premium puzzle ⓘ equity risk premium ⓘ historical stock returns ⓘ risk-free rate ⓘ |
| proposes | interpretations of the equity premium puzzle ⓘ |
| surveys |
empirical evidence on equity returns
ⓘ
literature on the equity premium puzzle ⓘ theoretical explanations of the equity premium ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: The Equity Premium in Retrospect Description of subject: "The Equity Premium in Retrospect" is a highly influential paper by John Cochrane that surveys and analyzes the historical equity premium puzzle and its implications for asset pricing theory.
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.