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Assume that the annual average excess return of S&P 500 is 8.6%, and the standard deviation is 20.2%. What is a reasonable estimate of the

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Assume that the annual average excess return of S&P 500 is 8.6%, and the standard deviation is 20.2%. What is a reasonable estimate of the average risk aversion in the U.S.? Round your answer to two decimal places

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