Edited by Rajnish Mehra, this volume focuses on the equity risk premium puzzle, a term coined by Mehra and Prescott in 1985 which encompasses a number of empirical regularities in the prices of capital assets that are at odds with the predictions of standard economic handbook is indispensable for any serious assessment of the state of the art on the famous equity premium puzzle. I had already read most of its content in previous working papers available in the internet, but having the peer-reviewed version reunited in a unique volume ready for consultation at any time is an invaluable.
