The Valuation of Long-Dated Assets
NBER Working Paper No. 16219
---- Acknowledgements -----
I am grateful to David Backus, Brandon Bates, Jonathan Berk, John Campbell, John Cochrane, Peter DeMarzo, Darrell Duffie, Lars Hansen, Michael Harrison, Ilan Kremer, Steve Ross, Jeremy Stein, Dimitri Vayanos, Martin Weitzman, and seminar participants at Berkeley, LSE, and the Stanford Institute for Theoretical Economics conference on "New Quantitative Models of Asset Markets" for their comments. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.