The Expected Value Premium
---- Acknowledgements -----
Chen: Department of Finance, Eli Broad College of Business, Michigan State University, 327 Eppley Center, East Lansing, MI 48823; tel: (517)353-2955, fax: (517)432-1080, email: firstname.lastname@example.org. Petkova: Department of Banking and Finance, Weatherhead School of Management, Case Western Reserve University, 10900 Euclid Avenue, Cleveland OH 44106; tel: (216)368-8553, email: Ralitsa.Petkova@case.edu. Zhang: Carol Simon Hall 3-160B, Simon School of Business, University of Rochester, 500 Wilson Boulevard, Rochester, NY 14627; tel: (585)275-3491, fax: (585)273-1140, email: email@example.com. We acknowledge helpful comments from Denitza Gintcheva and seminar participants at Kent State University and Case Western Reserve University.