Being one of the anomalies in the financial market, the equity premium puzzle has attracted numerous attentions in the financial economics since its first being raised, many researchers tried to explain the puzzle by modifying the traditional model in various ways.

Asset pricing is considered as the core of modern finance; it involves puzzles such as the equity premium puzzle and the risk-free rate puzzle, which have attracted an extensive research interest.

资产定价既是现代金融的核心，也是许多困惑之所在，其中最著名的就是股权溢价之谜和无风险利率之谜。

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The emergence of behavioral finance is bright to the puzzle. Its representative theory-myopic loss aversion theory can offer a relatively reasonable explanation to the equity premium puzzle.

行为金融学的出现为股权溢价之谜的解决带来了曙光，其代表性的理论&短视性损失厌恶理论，对股权溢价之谜提供了一个较为合理的解释。

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On this basis, this paper proposes the new forms of CCAPM model, and gives explanations of the equity premium puzzle and the risk-free rate puzzle.

在此基础上，本文提出了消费资本资产定价模型的新形式，并对股权溢价之谜和无风险利率之谜进行解释。

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From the viewpoint of market equilibrium, testify the mode about market risk premium and get a sound risk aversion coefficient and resolve the equity premium puzzle.

验证了老鼠仓情况下的市场风险溢价模型，得到合理的相对风险规避系数，从老鼠仓的角度解决了股权溢价之迷。

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However, efficient market hypothesis has failed to explain anomalies like the equity premium puzzle, calendar effect, acute fluctuation of stock price, ect.

但有效市场假说在实践中，无法解释股票价格过度波动、股权溢价之谜、日历效应等各种异象。

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This model resolves the equity premium puzzle Preference modifications, imperfect market and traction cost are often used to explain it.

本文使用该模型，解释了股票溢价之谜。对股票溢价之谜的探讨本文主要着眼于偏好修正、不完善市场和交易成本三个角度进行。

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Based on this model, we try to interpret the abnormal performances of stock prices such as equity premium puzzle, size effect.

通过这一模型，对股权溢价之谜、规模效应等实证金融中的反常现象进行了分析。

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The Equity Premium Puzzle

股权溢价之谜

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This paper tries to narrate the explanations of the equity premium puzzle from classical economics and behavioral finance.

本文将试图从古典经济学和行为金融学两个方面对理论学界对股权溢价之谜的解释进行综述。

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Have a meeting in the afternoon, a blank of head, does not know what is said.

下午开会，脑袋一片空白，不知道说什么。

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Question 3. What is said to be one of the mistakes that inexperienced travelers make?

问题3什么是没有经验的旅行者常犯的错误？

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As teachers we should concern ourselves with what is said, not what we think ought to be said.

作为老师，我们关心的应该是学生说了什么，而不是我们自认为学生应该说什么。

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As we learn from what is said aBove, the tides can Be very useful.

依照上面所说的，我们知道潮汐可以是非常有帮助的。

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Question 21. What is said to contribute to ConAgra's business success?

问题21.康尼格拉集团的商业成功得益于什么？

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Visit what is said to general mathematics teacher and other teachers, and sum up their way.

对一般数学教师及其他教师进行访谈，总结他们的做法。

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Knowing what is said above is very useful to develop economic law and market economy of socialism in China.

明乎此，对我国加强经济法的学科建设和完善社会主义市场经济大有裨益。

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This proverb means that what is said cannot be unsaid.

这条谚语告诉我们：话已经说出了口，就无法再收回。

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I find 95 per cent of what is said in such forums is not relevant.

我觉得各种论坛中的发言大约有95%都无关紧要。

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What is Said: Semantic or Pragmatic

所说内容：语义或语用

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After all that talking ( no matter what is said) he still doesn't believe me.

说来说去，你还是不相信我。

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