Cordial congratulations for Asset Pricing Work

Cordial congratulations to Fama, Hansen and Shiller for the Nobel price also to the asset pricing team of the University of Chicago who do a sharp on the edge work on spreading this asset pricing knowledge. My best wishes for happiness and creativity and for continuation of spreading this knowledge to people around the world.
Regulatory authorities especially in energy can use the 3factor or ( g multifactor model) which aligns with the macro environment to accurately calculate the regulated asset base return upon which the electricity cost and revenue is based. The L-T character of the model and the more efficient manipulation of the hedging state space offered by the stochastic discount rate will give accurate calculations.

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