Before revision:  First, the Arrow-Pratt measure of relative risk aversion for detecting the risk behavior of investors was questioned, and then a new tool  was developed to study the risk behavior of investors . This new tool in the new formulated model was tested for the equity premium puzzle for a solution .
After revision:  First, the Arrow-Pratt measure of relative risk aversion for detecting the risk behavior of investors was questioned, and then a new tool was developed to study the risk behavior of investors .