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Let's think about mean variance optimizar which would like to invest in bonds for two periods. For the purpose of them to be indiffrent b/w

Let's think about mean variance optimizar which would like to invest in bonds for two periods. For the purpose of them to be indiffrent b/w a two years bond and rolling over two one year bonds. What is the liquidity premium equal?
What if they would like to invest in X periods and are indiferent b/w X period bond on X-1 period bond rolled over into a one period?
What is the liquidity premium?

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