Traditional static asset pricing models, such as the CAPM, often fall short in capturing the dynamic nature of real-world investment decisions. These models typically rely on one-period frameworks, neglecting the iterative process of portfolio adjustment in response to evolving market conditions and new information. To address this limitation, a more dynamic approach is necessary to accurately model investor behavior and portfolio optimization strategies. To address this issue, it is essential to develop a multiperiod model that yields a new asset pricing formula. One such model is the Consumption-based CAPM (CCAPM), an intertemporal general equilibrium asset pricing model where investors make optimal decisions recursively.