{"id":"https://openalex.org/W2096778748","doi":"https://doi.org/10.2139/ssrn.343784","title":"Consumption-Based Asset Pricing","display_name":"Consumption-Based Asset Pricing","publication_year":2002,"publication_date":"2002-01-01","ids":{"openalex":"https://openalex.org/W2096778748","doi":"https://doi.org/10.2139/ssrn.343784","mag":"2096778748"},"language":"en","primary_location":{"id":"doi:10.2139/ssrn.343784","doi":"https://doi.org/10.2139/ssrn.343784","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.343784","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"volume":null,"type":"preprint","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.343784","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5113450091","display_name":"John Y. Campbell","orcid":null,"observed_orcids":[]},"institutions":[{"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/I136199984","display_name":"Harvard University","ror":"https://ror.org/03vek6s52","country_code":"US","type":"education","lineage":["https://openalex.org/I136199984"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"John Y. Campbell","raw_affiliation_strings":["Harvard University - Department of Economics, Littauer Center, Room 213, Cambridge, MA 02138, United States","National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","Harvard University - Department of Economics","National Bureau of Economic Research (NBER)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Harvard University - Department of Economics, Littauer Center, Room 213, Cambridge, MA 02138, United States","institution_ids":["https://openalex.org/I136199984"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Harvard University - Department of Economics","institution_ids":["https://openalex.org/I136199984"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5113450091"],"corresponding_institution_ids":["https://openalex.org/I1321305853","https://openalex.org/I136199984"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":239,"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":0.9785000085830688,"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":0.9785000085830688,"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":0.011500000022351742,"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/T10067","display_name":"Stochastic processes and financial applications","score":0.00430000014603138,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/consumption-capital-asset-pricing-model","display_name":"consumption-based asset pricing","score":0.9909999966621399},{"id":"https://openalex.org/keywords/market-price-of-risk","display_name":"market price of risk","score":0.8289999961853027},{"id":"https://openalex.org/keywords/time-varying-risk-premia","display_name":"time-varying risk premia","score":0.8360000252723694},{"id":"https://openalex.org/keywords/habit-formation","display_name":"habit formation","score":0.7549999952316284},{"id":"https://openalex.org/keywords/investor-heterogeneity","display_name":"investor heterogeneity","score":0.847000002861023},{"id":"https://openalex.org/keywords/irrational-expectations","display_name":"irrational expectations","score":0.984000027179718},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.9369999766349792},{"id":"https://openalex.org/keywords/bond-returns","display_name":"bond returns","score":0.9980000257492065},{"id":"https://openalex.org/keywords/asset-pricing-theory","display_name":"asset pricing theory","score":0.42399999499320984},{"id":"https://openalex.org/keywords/cross-national-comparison","display_name":"cross-national comparison","score":0.6499999761581421}],"concepts":[{"id":"https://openalex.org/C167626555","wikidata":"https://www.wikidata.org/wiki/Q5164759","display_name":"Consumption-based capital asset pricing model","level":3,"score":0.47693055868148804},{"id":"https://openalex.org/C181236170","wikidata":"https://www.wikidata.org/wiki/Q848354","display_name":"Capital asset pricing model","level":2,"score":0.4671608507633209},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4541080594062805},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4517074525356293},{"id":"https://openalex.org/C30772137","wikidata":"https://www.wikidata.org/wiki/Q5164762","display_name":"Consumption (sociology)","level":2,"score":0.449541300535202},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4116175174713135},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.2139/ssrn.343784","doi":"https://doi.org/10.2139/ssrn.343784","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.343784","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"}],"best_oa_location":{"id":"doi:10.2139/ssrn.343784","doi":"https://doi.org/10.2139/ssrn.343784","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.343784","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":186,"referenced_works":["https://openalex.org/W82742693","https://openalex.org/W186254157","https://openalex.org/W1484799109","https://openalex.org/W1503599903","https://openalex.org/W1528952447","https://openalex.org/W1545455349","https://openalex.org/W1552060925","https://openalex.org/W1562623279","https://openalex.org/W1574786337","https://openalex.org/W1576326745","https://openalex.org/W1583657264","https://openalex.org/W1608178816","https://openalex.org/W1640180511","https://openalex.org/W1965587578","https://openalex.org/W1966268097","https://openalex.org/W1967693106","https://openalex.org/W1969217060","https://openalex.org/W1969519191","https://openalex.org/W1975140694","https://openalex.org/W1975161917","https://openalex.org/W1980857400","https://openalex.org/W1980922018","https://openalex.org/W1981440879","https://openalex.org/W1984008241","https://openalex.org/W1985130276","https://openalex.org/W1990210249","https://openalex.org/W1992403182","https://openalex.org/W1998968611","https://openalex.org/W2000514400","https://openalex.org/W2003216730","https://openalex.org/W2005452036","https://openalex.org/W2010997253","https://openalex.org/W2011076341","https://openalex.org/W2013791278","https://openalex.org/W2014033196","https://openalex.org/W2016097698","https://openalex.org/W2016682280","https://openalex.org/W2016916572","https://openalex.org/W2019834264","https://openalex.org/W2021782691","https://openalex.org/W2026605399","https://openalex.org/W2027063727","https://openalex.org/W2033234535","https://openalex.org/W2037595890","https://openalex.org/W2038367498","https://openalex.org/W2038621549","https://openalex.org/W2038828295","https://openalex.org/W2041046371","https://openalex.org/W2045202248","https://openalex.org/W2046637750","https://openalex.org/W2049947366","https://openalex.org/W2050643653","https://openalex.org/W2056682771","https://openalex.org/W2056711404","https://openalex.org/W2058861354","https://openalex.org/W2061160212","https://openalex.org/W2061371720","https://openalex.org/W2062981895","https://openalex.org/W2065273716","https://openalex.org/W2072799098","https://openalex.org/W2074812030","https://openalex.org/W2076057077","https://openalex.org/W2076306791","https://openalex.org/W2082330181","https://openalex.org/W2085647375","https://openalex.org/W2087934366","https://openalex.org/W2088548545","https://openalex.org/W2089556049","https://openalex.org/W2096136442","https://openalex.org/W2096365402","https://openalex.org/W2099750880","https://openalex.org/W2103066485","https://openalex.org/W2103849347","https://openalex.org/W2104204963","https://openalex.org/W2107260812","https://openalex.org/W2111187892","https://openalex.org/W2112070030","https://openalex.org/W2113704261","https://openalex.org/W2118775685","https://openalex.org/W2119143694","https://openalex.org/W2120813208","https://openalex.org/W2122270438","https://openalex.org/W2128475248","https://openalex.org/W2132807882","https://openalex.org/W2133049119","https://openalex.org/W2133469585","https://openalex.org/W2133854120","https://openalex.org/W2134807435","https://openalex.org/W2134854408","https://openalex.org/W2136241359","https://openalex.org/W2139250112","https://openalex.org/W2141967800","https://openalex.org/W2142571861","https://openalex.org/W2142859812","https://openalex.org/W2143690586","https://openalex.org/W2146000914","https://openalex.org/W2146762522","https://openalex.org/W2146935127","https://openalex.org/W2147277739","https://openalex.org/W2151993164","https://openalex.org/W2153807074","https://openalex.org/W2154860111","https://openalex.org/W2157763049","https://openalex.org/W2159998650","https://openalex.org/W2163455584","https://openalex.org/W2171942651","https://openalex.org/W2218852049","https://openalex.org/W2219722162","https://openalex.org/W2296216602","https://openalex.org/W2327045848","https://openalex.org/W2468592140","https://openalex.org/W2507793692","https://openalex.org/W2555169116","https://openalex.org/W2570453983","https://openalex.org/W2570834760","https://openalex.org/W2589537331","https://openalex.org/W2784020932","https://openalex.org/W2889716834","https://openalex.org/W2890243528","https://openalex.org/W2891125964","https://openalex.org/W2891159187","https://openalex.org/W2891440059","https://openalex.org/W2904384467","https://openalex.org/W2905058022","https://openalex.org/W2934090341","https://openalex.org/W2936516187","https://openalex.org/W2978404431","https://openalex.org/W2994766029","https://openalex.org/W3021432618","https://openalex.org/W3021938903","https://openalex.org/W3022041122","https://openalex.org/W3023376117","https://openalex.org/W3023688799","https://openalex.org/W3121225705","https://openalex.org/W3121252329","https://openalex.org/W3121306662","https://openalex.org/W3121497095","https://openalex.org/W3121762569","https://openalex.org/W3121790069","https://openalex.org/W3121828613","https://openalex.org/W3121872951","https://openalex.org/W3121900164","https://openalex.org/W3121968018","https://openalex.org/W3122285023","https://openalex.org/W3122414763","https://openalex.org/W3122433429","https://openalex.org/W3122444604","https://openalex.org/W3122451188","https://openalex.org/W3122531453","https://openalex.org/W3122578644","https://openalex.org/W3122664468","https://openalex.org/W3122712023","https://openalex.org/W3123005743","https://openalex.org/W3123007700","https://openalex.org/W3123296684","https://openalex.org/W3123322809","https://openalex.org/W3123849616","https://openalex.org/W3123936290","https://openalex.org/W3124256936","https://openalex.org/W3124269969","https://openalex.org/W3124336741","https://openalex.org/W3124466994","https://openalex.org/W3124485385","https://openalex.org/W3124906991","https://openalex.org/W3124986104","https://openalex.org/W3125017137","https://openalex.org/W3125462118","https://openalex.org/W3125749791","https://openalex.org/W3126069557","https://openalex.org/W3142226878","https://openalex.org/W4206509046","https://openalex.org/W4206556565","https://openalex.org/W4232743113","https://openalex.org/W4235975470","https://openalex.org/W4236724112","https://openalex.org/W4239016354","https://openalex.org/W4239074550","https://openalex.org/W4244198018","https://openalex.org/W4244868457","https://openalex.org/W4247177093","https://openalex.org/W4248076479","https://openalex.org/W4248790813","https://openalex.org/W4251200706","https://openalex.org/W4251635588","https://openalex.org/W4255179884","https://openalex.org/W4285719527"],"related_works":["https://openalex.org/W1511694181","https://openalex.org/W186209714","https://openalex.org/W7112143367","https://openalex.org/W2144543226","https://openalex.org/W7112292559","https://openalex.org/W2130048640","https://openalex.org/W2280412791","https://openalex.org/W2108701764","https://openalex.org/W2501558244","https://openalex.org/W2053946976"],"abstract_inverted_index":null,"counts_by_year":[{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":5},{"year":2020,"cited_by_count":7},{"year":2019,"cited_by_count":9},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":15},{"year":2016,"cited_by_count":8},{"year":2015,"cited_by_count":15},{"year":2014,"cited_by_count":13},{"year":2013,"cited_by_count":17},{"year":2012,"cited_by_count":24}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}