{"id":"https://openalex.org/W1507180271","doi":"https://doi.org/10.3386/w2776","title":"Production Based Asset Pricing","display_name":"Production Based Asset Pricing","publication_year":1988,"publication_date":"1988-11-01","ids":{"openalex":"https://openalex.org/W1507180271","doi":"https://doi.org/10.3386/w2776","mag":"1507180271"},"language":"en","primary_location":{"id":"doi:10.3386/w2776","doi":"https://doi.org/10.3386/w2776","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w2776","pdf_url":"https://doi.org/10.3386/w2776","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"volume":null,"type":"report","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.3386/w2776","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5010556988","display_name":"John H. Cochrane","orcid":"https://orcid.org/0000-0002-1541-958X","observed_orcids":["https://orcid.org/0000-0002-1541-958X"]},"institutions":[{"id":"https://openalex.org/I1286498122","display_name":"Hoover Institution","ror":"https://ror.org/04ce9mt19","country_code":"US","type":"facility","lineage":["https://openalex.org/I1286498122"]},{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I40347166","display_name":"University of Chicago","ror":"https://ror.org/024mw5h28","country_code":"US","type":"education","lineage":["https://openalex.org/I40347166"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"John Cochrane","raw_affiliation_strings":["1050 Massachusetts Avenue Cambridge , MA 02138","University of Chicago Department of Economics 1126 E. 59th Street Chicago , IL 60637","National Bureau of Economic Research (NBER)","University of Chicago - Booth School of Business","Hoover Institution"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"1050 Massachusetts Avenue Cambridge , MA 02138","institution_ids":[]},{"raw_affiliation_string":"University of Chicago Department of Economics 1126 E. 59th Street Chicago , IL 60637","institution_ids":["https://openalex.org/I40347166"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"University of Chicago - Booth School of Business","institution_ids":["https://openalex.org/I40347166"]},{"raw_affiliation_string":"Hoover Institution","institution_ids":["https://openalex.org/I1286498122"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5010556988"],"corresponding_institution_ids":["https://openalex.org/I1286498122","https://openalex.org/I1321305853","https://openalex.org/I40347166"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":37,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.7095000147819519,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.7095000147819519,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.2087000012397766,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.028699999675154686,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/production-based-asset-pricing","display_name":"production-based asset pricing","score":0.9110000133514404},{"id":"https://openalex.org/keywords/equity-premium","display_name":"equity premium","score":0.7829999923706055},{"id":"https://openalex.org/keywords/term-premium","display_name":"term premium","score":0.9129999876022339},{"id":"https://openalex.org/keywords/forward-rates","display_name":"forward rates","score":0.7900000214576721}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5269373655319214},{"id":"https://openalex.org/C181236170","wikidata":"https://www.wikidata.org/wiki/Q848354","display_name":"Capital asset pricing model","level":2,"score":0.5087135434150696},{"id":"https://openalex.org/C2778348673","wikidata":"https://www.wikidata.org/wiki/Q739302","display_name":"Production (economics)","level":2,"score":0.4814685881137848},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4356456995010376},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.37761420011520386},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.33551326394081116},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3051490783691406},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.22460639476776123}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.3386/w2776","doi":"https://doi.org/10.3386/w2776","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w2776","pdf_url":"https://doi.org/10.3386/w2776","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},{"id":"pmh:oai:RePEc:nbr:nberwo:2776","doi":null,"is_oa":false,"landing_page_url":"http://www.nber.org/papers/w2776.pdf","pdf_url":"http://www.nber.org/papers/w2776.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.956.3680","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.956.3680","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.nber.org/papers/w2776.pdf","raw_type":"text"},{"id":"mag:3124861582","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:nbr:nberwo:2776","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"mag:3140941847","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/nbr/nberwo/2776.html","pdf_url":null,"source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"National Bureau of Economic Research","raw_type":null}],"best_oa_location":{"id":"doi:10.3386/w2776","doi":"https://doi.org/10.3386/w2776","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w2776","pdf_url":"https://doi.org/10.3386/w2776","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W1507180271.pdf","grobid_xml":"https://content.openalex.org/works/W1507180271.grobid-xml"},"referenced_works_count":14,"referenced_works":["https://openalex.org/W203351293","https://openalex.org/W1484295504","https://openalex.org/W1506222887","https://openalex.org/W1506613741","https://openalex.org/W1540666375","https://openalex.org/W1552060925","https://openalex.org/W1942004503","https://openalex.org/W2015800048","https://openalex.org/W2085647375","https://openalex.org/W2105422929","https://openalex.org/W2119143694","https://openalex.org/W2162976621","https://openalex.org/W3125791267","https://openalex.org/W6982511312"],"related_works":["https://openalex.org/W7098089713","https://openalex.org/W63311687","https://openalex.org/W2138625304","https://openalex.org/W7100145779","https://openalex.org/W1588708132","https://openalex.org/W3126089732","https://openalex.org/W7097839182","https://openalex.org/W3207660529","https://openalex.org/W4388740134","https://openalex.org/W2514543492"],"abstract_inverted_index":{"This":[0],"paper":[1],"exploits":[2],"producer's":[3],"first":[4,25],"order":[5,26],"conditions":[6,27],"to":[7,11,31,35,49],"link":[8,32],"asset":[9,33],"prices":[10,34],"data":[12,37],"on":[13],"investment,":[14],"output,":[15],"etc.":[16],"through":[17,40],"marginal":[18,41],"rates":[19,42],"of":[20,43,54,69,79],"transformation,":[21],"just":[22],"as":[23],"consumer's":[24],"are":[28],"commonly":[29],"used":[30],"consumption":[36,51],"or":[38],"proxies":[39],"substitution.It":[44],"presents":[45],"simulation":[46],"economies":[47],"analogous":[48],"the":[50,67,70,74,80],"based":[52],"models":[53],"Mehra":[55],"and":[56,59,62,73,76],"Prescott":[57],"(1985)":[58],"Backus,":[60],"Gregory":[61],"Ziri":[63],"(1986)":[64],"that":[65],"capture":[66],"size":[68,75],"equity":[71],"premium":[72],"cyclical":[77],"timing":[78],"forward":[81],"rate":[82],"term":[83],"premium.":[84]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":6},{"year":2017,"cited_by_count":2},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":5},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}
