Empirical Evidence for the New Definitions in Financial Markets and the Equity Premium Puzzle Finansal Piyasalarda Yeni Tanımlar için Ampirik Kanıtlar ve Hisse Senedi Primi Bulmacası

Creative Commons License

Aras A., TÜRKOĞLU A. D.

Sosyoekonomi, cilt.34, sa.68, ss.407-423, 2026 (ESCI, Scopus, TRDizin) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 34 Sayı: 68
  • Basım Tarihi: 2026
  • Doi Numarası: 10.17233/sosyoekonomi.2026.02.17
  • Dergi Adı: Sosyoekonomi
  • Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), Scopus, TR DİZİN (ULAKBİM)
  • Sayfa Sayıları: ss.407-423
  • Anahtar Kelimeler: Coefficient of Relative Risk Aversion, Equity Investor, Risk-Free Asset Investor
  • Açık Arşiv Koleksiyonu: AVESİS Açık Erişim Koleksiyonu
  • Gazi Üniversitesi Adresli: Evet

Özet

This study aims to present empirical evidence supporting the validity of new definitions of risk attitudes that may find a place in financial markets. A new method, partly based on the consumption capital asset pricing model, is developed to determine risk behaviour in financial markets. Additionally, the method specifies risk behaviours for unequal wealth values that differ in some respects from those of the standard method. Moreover, the method offers a solution to the equity premium puzzle. The results suggest that the new definitions accurately specify the risk behaviours and can be used in investment strategies.