Advances In Behavioral Finance

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Advances in Behavioral Finance

Author : Richard H. Thaler
Publisher : Russell Sage Foundation
Page : 628 pages
File Size : 41,8 Mb
Release : 1993-08-19
Category : Business & Economics
ISBN : 0871548445

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Advances in Behavioral Finance by Richard H. Thaler Pdf

Modern financial markets offer the real world's best approximation to the idealized price auction market envisioned in economic theory. Nevertheless, as the increasingly exquisite and detailed financial data demonstrate, financial markets often fail to behave as they should if trading were truly dominated by the fully rational investors that populate financial theories. These markets anomalies have spawned a new approach to finance, one which as editor Richard Thaler puts it, "entertains the possibility that some agents in the economy behave less than fully rationally some of the time." Advances in Behavioral Finance collects together twenty-one recent articles that illustrate the power of this approach. These papers demonstrate how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. To take several examples, Werner De Bondt and Thaler find an explanation for superior price performance of firms with poor recent earnings histories in the tendencies of investors to overreact to recent information. Richard Roll traces the negative effects of corporate takeovers on the stock prices of the acquiring firms to the overconfidence of managers, who fail to recognize the contributions of chance to their past successes. Andrei Shleifer and Robert Vishny show how the difficulty of establishing a reliable reputation for correctly assessing the value of long term capital projects can lead investment analysis, and hence corporate managers, to focus myopically on short term returns. As a testing ground for assessing the empirical accuracy of behavioral theories, the successful studies in this landmark collection reach beyond the world of finance to suggest, very powerfully, the importance of pursuing behavioral approaches to other areas of economic life. Advances in Behavioral Finance is a solid beachhead for behavioral work in the financial arena and a clear promise of wider application for behavioral economics in the future.

Advances in Behavioral Economics

Author : Colin F. Camerer,George Loewenstein,Matthew Rabin
Publisher : Princeton University Press
Page : 769 pages
File Size : 50,7 Mb
Release : 2011-12-12
Category : Business & Economics
ISBN : 9781400829118

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Advances in Behavioral Economics by Colin F. Camerer,George Loewenstein,Matthew Rabin Pdf

Twenty years ago, behavioral economics did not exist as a field. Most economists were deeply skeptical--even antagonistic--toward the idea of importing insights from psychology into their field. Today, behavioral economics has become virtually mainstream. It is well represented in prominent journals and top economics departments, and behavioral economists, including several contributors to this volume, have garnered some of the most prestigious awards in the profession. This book assembles the most important papers on behavioral economics published since around 1990. Among the 25 articles are many that update and extend earlier foundational contributions, as well as cutting-edge papers that break new theoretical and empirical ground. Advances in Behavioral Economics will serve as the definitive one-volume resource for those who want to familiarize themselves with the new field or keep up-to-date with the latest developments. It will not only be a core text for students, but will be consulted widely by professional economists, as well as psychologists and social scientists with an interest in how behavioral insights are being applied in economics. The articles, which follow Colin Camerer and George Loewenstein's introduction, are by the editors, George A. Akerlof, Linda Babcock, Shlomo Benartzi, Vincent P. Crawford, Peter Diamond, Ernst Fehr, Robert H. Frank, Shane Frederick, Simon Gächter, David Genesove, Itzhak Gilboa, Uri Gneezy, Robert M. Hutchens, Daniel Kahneman, Jack L. Knetsch, David Laibson, Christopher Mayer, Terrance Odean, Ted O'Donoghue, Aldo Rustichini, David Schmeidler, Klaus M. Schmidt, Eldar Shafir, Hersh M. Shefrin, Chris Starmer, Richard H. Thaler, Amos Tversky, and Janet L. Yellen.

The Behavioural Finance Revolution

Author : Riccardo Viale,Shabnam Mousavi,Barbara Alemanni,Umberto Filotto
Publisher : Edward Elgar Publishing
Page : 272 pages
File Size : 45,7 Mb
Release : 2024-06-28
Category : Electronic
ISBN : 9781788973069

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The Behavioural Finance Revolution by Riccardo Viale,Shabnam Mousavi,Barbara Alemanni,Umberto Filotto Pdf

Financial markets are complex. Regulators strive to predict ways in which they can malfunction and create rules to prevent this from happening, yet behavioural impacts are often overlooked. This book explores how behavioural finance can go hand-in-hand with traditional methods to help banks and regulators create better policies. It also demonstrates how the behavioural finance revolution has opened the way to a more integrated approach to the analysis of economic phenomena.

Advances in Entrepreneurial Finance

Author : Rassoul Yazdipour
Publisher : Springer Science & Business Media
Page : 255 pages
File Size : 51,5 Mb
Release : 2010-12-17
Category : Business & Economics
ISBN : 9781441975270

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Advances in Entrepreneurial Finance by Rassoul Yazdipour Pdf

Advances in Entrepreneurial Finance brings together contributions from researchers from the fields of entrepreneurship, behavioral finance, psychology, and neuroscience to shed new light on the dynamics of decision making and risk taking by entrepreneurs and venture capitalists (VCs). Every new venture requires access to capital at competitive interest rates, and much has been written on general entrepreneurship by management scholars and financial contracting by financial economists using traditional finance theory with all its highly restrictive assumptions regarding decision makers’ cognitive capabilities and behavior. But recent developments in behavioral finance can now be applied to understand how entrepreneurs and VCs perceive risk and uncertainty and how they decide and act accordingly. Showcasing the latest research, this volume demonstrates that findings from the behavioral and neuroscience arenas can and do explain decision making by entrepreneurs and venture investors in the real world. Consequently, such findings have practical implications not only for entrepreneurs, venture capitalists, and their advisors, but also all government agencies and NGOs that want to support product and technological innovation, capital formation, job creation, and economic development.

Behavioral Finance: A Novel Approach

Author : Itzhak Venezia
Publisher : World Scientific
Page : 389 pages
File Size : 52,6 Mb
Release : 2020-11-24
Category : Business & Economics
ISBN : 9789811229268

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Behavioral Finance: A Novel Approach by Itzhak Venezia Pdf

Behavioral Finance: A Novel Approach presents original papers exploring fresh ideas in behavioral finance. Its chapters span a wide range of topics in a distinct mix of traditional issues along with less conventional matters. This blend creates an optimal balance between chapters aiming at widening the scope of research in behavioral finance and those striving to refine the extant knowledge.Thus, along with traditional topics such as biases in pension decisions, analysts recommendation, gender differences in decisions and IPO's underpricing, the book also contains chapters on CEO and board members behavior, biased responses to regulation and regulatory reform, investors' attitudes towards corporate governance, cognitive biases in judicial decisions, the relations between behavioral finance and religion, new methods to calibrate the accuracy of forecasts, and the relations between behavioral finance and optimal contracting.Presenting original findings on a vast assortment of subjects, all in one venue, makes the book ideal as a reference book for researchers and practitioners interested in keeping up with the important developments in behavioral finance. The book could also serve as a handy guide for adapting insights from popular behavioral finance to some important underrepresented issues.

New Advances in Behavioural Finance

Author : Júlio

Lobão
Publisher : Cambridge Scholars Publishing
Page : 260 pages
File Size : 47,7 Mb
Release : 2021-05-14
Category : Business & Economics
ISBN : 9781527569614

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New Advances in Behavioural Finance by Júlio

Lobão Pdf

This volume explores some of the latest advances in the field of behavioural finance, one of the most dynamic areas in financial economics today. The book shows how, through its use of insights from psychology to better understand the decisions made by investors and corporate managers, behavioural finance has shed new light on several financial puzzles.

Advances in Behavioral Finance, Volume II

Author : Richard H. Thaler
Publisher : Princeton University Press
Page : 739 pages
File Size : 44,6 Mb
Release : 2005-07-25
Category : Business & Economics
ISBN : 9780691121758

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Advances in Behavioral Finance, Volume II by Richard H. Thaler Pdf

A definitive and wide-ranging overview of developments in behavioural finance over the past ten years. This second volume presents twenty recent papers by leading specialists that illustrate the abiding power of behavioural finance.

Behavioral Finance and Decision-making Models

Author : Tripti Tripathi,Manoj Kumar Dash,Gaurav Agrawal
Publisher : Business Science Reference
Page : 0 pages
File Size : 44,7 Mb
Release : 2019
Category : Business & Economics
ISBN : 1522574018

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Behavioral Finance and Decision-making Models by Tripti Tripathi,Manoj Kumar Dash,Gaurav Agrawal Pdf

Behavioral finance challenges the traditional assumption that individuals are rational by focusing on the cognitive and emotional aspects of finance, which draws on psychology, sociology, and biology to investigate true financial behavior. The financial sector requires sound understanding of market dynamics and strategic issues to meet future challenges in the field. Behavioral Finance and Decision-Making Models seeks to examine behavioral biases and their impact on investment decisions in order to develop better future plans and strategies in the financial sector. While highlighting topics including behavioral approach, financial regulation, and globalized sector, this book is intended for policymakers, technology developers, managers, government officials, academicians, researchers, and advanced-level students.

Behavioral Finance

Author : Joachim Goldberg,Rüdiger von Nitzsch
Publisher : John Wiley & Sons
Page : 250 pages
File Size : 49,6 Mb
Release : 2001-03-30
Category : Business & Economics
ISBN : UCSC:32106016501394

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Behavioral Finance by Joachim Goldberg,Rüdiger von Nitzsch Pdf

This fascinating book explains the new science of behavioral finance. It demonstrates clearly how behavior-orientated analysis of the financial markets can explain and account for fundamental principles in technical analysis. The book is divided into the following chapters, each offering practical analysis and advice; Forecasts, An analysis of exposure, Dams to combat the flood of information, Everything is relative, People like to see themselves in a favorable light, Everyone is different and Free advice - valuable tips for successful trades.

Behavioural Investing

Author : James Montier
Publisher : John Wiley & Sons
Page : 740 pages
File Size : 42,7 Mb
Release : 2009-10-09
Category : Business & Economics
ISBN : 9780470687796

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Behavioural Investing by James Montier Pdf

Behavioural investing seeks to bridge the gap between psychology and investing. All too many investors are unaware of the mental pitfalls that await them. Even once we are aware of our biases, we must recognise that knowledge does not equal behaviour. The solution lies is designing and adopting an investment process that is at least partially robust to behavioural decision-making errors. Behavioural Investing: A Practitioner’s Guide to Applying Behavioural Finance explores the biases we face, the way in which they show up in the investment process, and urges readers to adopt an empirically based sceptical approach to investing. This book is unique in combining insights from the field of applied psychology with a through understanding of the investment problem. The content is practitioner focused throughout and will be essential reading for any investment professional looking to improve their investing behaviour to maximise returns. Key features include: The only book to cover the applications of behavioural finance An executive summary for every chapter with key points highlighted at the chapter start Information on the key behavioural biases of professional investors, including The seven sins of fund management, Investment myth busting, and The Tao of investing Practical examples showing how using a psychologically inspired model can improve on standard, common practice valuation tools Written by an internationally renowned expert in the field of behavioural finance

Handbook of the Economics of Finance

Author : G. Constantinides,M. Harris,Rene M. Stulz
Publisher : Elsevier
Page : 698 pages
File Size : 41,9 Mb
Release : 2003-11-04
Category : Business & Economics
ISBN : 0444513639

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Handbook of the Economics of Finance by G. Constantinides,M. Harris,Rene M. Stulz Pdf

Arbitrage, State Prices and Portfolio Theory / Philip h. Dybvig and Stephen a. Ross / - Intertemporal Asset Pricing Theory / Darrell Duffle / - Tests of Multifactor Pricing Models, Volatility Bounds and Portfolio Performance / Wayne E. Ferson / - Consumption-Based Asset Pricing / John y Campbell / - The Equity Premium in Retrospect / Rainish Mehra and Edward c. Prescott / - Anomalies and Market Efficiency / William Schwert / - Are Financial Assets Priced Locally or Globally? / G. Andrew Karolyi and Rene M. Stuli / - Microstructure and Asset Pricing / David Easley and Maureen O'hara / - A Survey of Behavioral Finance / Nicholas Barberis and Richard Thaler / - Derivatives / Robert E. Whaley / - Fixed-Income Pricing / Qiang Dai and Kenneth J. Singleton.

Behavioral Economics and Finance Leadership

Author : Julia Puaschunder
Publisher : Springer Nature
Page : 183 pages
File Size : 47,8 Mb
Release : 2020-10-19
Category : Business & Economics
ISBN : 9783030543303

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Behavioral Economics and Finance Leadership by Julia Puaschunder Pdf

This book explores human decision-making heuristics and studies how nudging and winking can help citizens to make rational choices. By applying the behavioral economics approach to political outcomes, it demonstrates how economics can be employed for the greater societal good. It starts with a review of the current literature on human decision-making failures in Europe and North America, presenting the wide range of nudges and winks developed to curb the harmful consequences of human decision-making fallibility. It then discusses the use of mental heuristics, biases and nudges in the finance domain to benefit economic markets by providing clear communication strategies. Lastly, the author proposes clear leadership and followership directives on nudging in the digital age. This book appeals to scholars and policy makers interested in rational decision-making and the use of nudging and winking in the digital age.

Advances in Behavioral Finance

Author : Richard H. Thaler
Publisher : Unknown
Page : 642 pages
File Size : 41,6 Mb
Release : 1993-08-19
Category : Business & Economics
ISBN : UOM:39015058010706

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Advances in Behavioral Finance by Richard H. Thaler Pdf

A collection of 21 recent articles that illustrate the power of a new approach to finance, one which as editor Thaler puts it, "entertains the possibility that some of the agents in the economy behave less than fully rationally some of the time." These papers illustrate how specific departures from fully rational decisionmaking by individual market agents can provide explanations of otherwise puzzling market phenomena. Annotation copyright by Book News, Inc., Portland, OR

Behavioural Technical Analysis

Author : Paul V. Azzopardi
Publisher : Harriman House Limited
Page : 216 pages
File Size : 53,9 Mb
Release : 2010-10-11
Category : Business & Economics
ISBN : 9780857190680

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Behavioural Technical Analysis by Paul V. Azzopardi Pdf

This work offers a practical, concise introduction to behavioral finance--a method that is revolutionizing investment because it places real human beings at the center of the market, and shows how human sentiment and emotion is what really drives securities markets.

Advances in Behavioral Finance, Volume II

Author : Richard H. Thaler
Publisher : Princeton University Press
Page : 744 pages
File Size : 42,5 Mb
Release : 2005-07-05
Category : Business & Economics
ISBN : 9781400829125

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Advances in Behavioral Finance, Volume II by Richard H. Thaler Pdf

This book offers a definitive and wide-ranging overview of developments in behavioral finance over the past ten years. In 1993, the first volume provided the standard reference to this new approach in finance--an approach that, as editor Richard Thaler put it, "entertains the possibility that some of the agents in the economy behave less than fully rationally some of the time." Much has changed since then. Not least, the bursting of the Internet bubble and the subsequent market decline further demonstrated that financial markets often fail to behave as they would if trading were truly dominated by the fully rational investors who populate financial theories. Behavioral finance has made an indelible mark on areas from asset pricing to individual investor behavior to corporate finance, and continues to see exciting empirical and theoretical advances. Advances in Behavioral Finance, Volume II constitutes the essential new resource in the field. It presents twenty recent papers by leading specialists that illustrate the abiding power of behavioral finance--of how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. As with the first volume, it reaches beyond the world of finance to suggest, powerfully, the importance of pursuing behavioral approaches to other areas of economic life. The contributors are Brad M. Barber, Nicholas Barberis, Shlomo Benartzi, John Y. Campbell, Emil M. Dabora, Daniel Kent, François Degeorge, Kenneth A. Froot, J. B. Heaton, David Hirshleifer, Harrison Hong, Ming Huang, Narasimhan Jegadeesh, Josef Lakonishok, Owen A. Lamont, Roni Michaely, Terrance Odean, Jayendu Patel, Tano Santos, Andrei Shleifer, Robert J. Shiller, Jeremy C. Stein, Avanidhar Subrahmanyam, Richard H. Thaler, Sheridan Titman, Robert W. Vishny, Kent L. Womack, and Richard Zeckhauser.