2005•The Journal of InvestingRequires access
The Equity Risk Premium Controversy
Charles P. Jones, Jack W. Wilson
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Abstract
The equity risk premium controversy is a puzzle with implications for investors and money managers. Whatever the arguments about a high equity risk premium in the past, there has been a substantial premium over time on average, although typically not as great a realized premium to investors. There is similarly credible evidence that an equivalent or only slightly lower premium may continue into the future.