Giorgi, Enrico G. De; Post, Thierry; Yalcin, Atakan - İktisat Bölümü, İktisadi ve İdari Bilimler Fakültesi - 2012
We provide theoretical and empirical arguments in favor of a concave shape for the security market line, or a diminishing marginal premium for market risk. In capital market equilibrium with binding portfolio restrictions, different investors generally hold different sets of risky securities....
