9780324661170

Behavioral Finance Psychology, Decision-Making, and Markets

by ;
  • ISBN13:

    9780324661170

  • ISBN10:

    0324661177

  • Edition: 1st
  • Format: Hardcover
  • Copyright: 9/23/2009
  • Publisher: Cengage Learning

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Summary

Discover a structured, applied approach to behavioral finance with Ackert/Deaves' BEHAVIORAL FINANCE: PSYCHOLOGY, DECISION MAKING, AND MARKETS. This comprehensive text links finance theory and practice to human behavior with applications in every chapter. The book builds upon principles of finance, connecting content to psychological principles of behavioral finance, including heuristics and biases, overconfidence, emotion and social forces. Readers learn how human behavior influences the decisions of individual investors and professional finance practitioners, markets, and managers. The book clearly explains what behavioral finance indicates about observed market outcomes as well as how psychological biases potentially impact the behavior of managers. Readers see, first-hand, the implications of behavioral finance on retirement, pensions, education, debiasing, and client management. This book spends a significant amount of time examining how practitioners today can use behavioral finance to further their success.

Table of Contents

Introduction
Conventional Finance, Prospect Theory and Market Efficiency
Foundations of conventional finance: Expected utility
Foundations of conventional finance: Asset pricing theory and market efficiency
Prospect theory, framing and mental accounting
Limits to arbitrage, anomalies and investor sentiment
Behavioral Science Foundations
Heuristics and biases
Overconfidence
Emotion
Investor Behavior
Investor behavior stemming from heuristics and biases
The impact of overconfidence on investor decision-making
Emotion-based investor behavior
Social Forces
Social forces: Selfishness or altruism?
Social forces and behavior
Market Outcomes
Behavioral explanations for anomalies
Aggregate stock market puzzles
Corporate Finance
Irrational markets
Irrational managers
Retirement, Pensions, Education, Debiasing and Client Management
Understanding retirement saving and investment behavior and improving DC pensions
Debiasing, education, and client management
Money Management
Money management and behavioral investing
Neurofinance and trading
Table of Contents provided by Publisher. All Rights Reserved.

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