The two reasons most experts give for the existence of a positive maturity risk premium are (1)because investors are assumed to be risk averse,and (2)because investors prefer to lend long while firms prefer to borrow short.

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The primary reasons for a positive maturity risk premium are (1) because investors are assumed to be risk averse, which is correct, but (2) it's actually because investors generally prefer shorter-term investments due to their lower risk, while firms may prefer to borrow for longer terms to lock in interest rates, leading to a demand for higher returns for longer maturities to compensate for the increased risk.

The Two Reasons Most Experts Give for the Existence of a Positive