As a youth Majolus fled his family's estates near Rietz to stay with relatives at Mâcon due to the Muslim invasions.
The idea was first proposed by Rietz in 1988, as a way to explain the equity premium puzzle.
Henry Louis Rietz (24 August 1875, Gilmore, Ohio – 7 December 1943, Iowa City, Iowa) was an American mathematician, actuarial scientist, and statistician, who was a leader in the development of statistical theory.