Bryan Caplan Believes in the Equity Premium Puzzle
He not only believes in it, he believes in the home bias puzzle too--and he acts on his beliefs:
EconLog, Four Bad Role Models, Bryan Caplan: Library of Economics and Liberty : Karen Lewis' excellent article on home country bias in the Journal of Economic Literature convinced me that I should drastically increase my ratio of international assets to domestic assets. After a brief "cooling off" period imposed by my ever-prudent wife, we went forward and made the change.
But has he mortgaged his house to the gills and invested the proceeds in international equities? Enquiring minds want to know!
