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A Behavioral Approach to Asset Pricing


A Behavioral Approach to Asset Pricing
  • Author : Hersh Shefrin
  • Publisher : Elsevier
  • Release : 2008-05-19
  • ISBN : 0080482244
  • Language : En, Es, Fr & De
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Behavioral finance is the study of how psychology affects financial decision making and financial markets. It is increasingly becoming the common way of understanding investor behavior and stock market activity. Incorporating the latest research and theory, Shefrin offers both a strong theory and efficient empirical tools that address derivatives, fixed income securities, mean-variance efficient portfolios, and the market portfolio. The book provides a series of examples to illustrate the theory. The second edition continues the tradition of the first edition by being the one and only book to focus completely on how behavioral finance principles affect asset pricing, now with its theory deepened and enriched by a plethora of research since the first edition

Textbook Outlines Highlights and Practice Quizzes


Textbook Outlines  Highlights  and Practice Quizzes
  • Author : Hersh Shefrin
  • Publisher :
  • Release : 2013
  • ISBN : 1478473339
  • Language : En, Es, Fr & De
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Behavioral Finance and Capital Markets


Behavioral Finance and Capital Markets
  • Author : A. Szyszka
  • Publisher : Springer
  • Release : 2013-09-04
  • ISBN : 9781137366290
  • Language : En, Es, Fr & De
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Behavioral Finance helps investors understand unusual asset prices and empirical observations originating out of capital markets. At its core, this field of study aids investors in navigating complex psychological trappings in market behavior and making smarter investment decisions. Behavioral Finance and Capital Markets reveals the main foundations underpinning neoclassical capital market and asset pricing theory, as filtered through the lens of behavioral finance. Szyszka presents and classifies many of the dynamic arguments being made in the current literature on the topic through the use of a new, ground-breaking methodology termed: the General Behavioral Asset Pricing Model (GBM). GBM describes how asset prices are influenced by various behavioral heuristics and how these prices deviate from fundamental values due to irrational behavior on the part of investors. The connection between psychological factors responsible for irrational behavior and market pricing anomalies is featured extensively throughout the text. Alternative explanations for various theoretical and empirical market puzzles - such as the 2008 U.S. financial crisis - are also discussed in a convincing and interesting manner. The book also provides interesting insights into behavioral aspects of corporate finance.

Behavioralizing Finance


Behavioralizing Finance
  • Author : Hersh Shefrin
  • Publisher : Now Publishers Inc
  • Release : 2010-03-01
  • ISBN : 9781601983305
  • Language : En, Es, Fr & De
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Behavioralizing Finance suggests that finance is moving to a new paradigm that combines structural features from neoclassical finance and realistic assumptions from behavioral finance. The behavioralization of finance involves intellectual shifts by two groups - the first shift features neoclassical economists explicitly incorporating psychological elements into their models and the second shift features behavioral economists developing a systematic, rigorous framework. Behavioralizing Finance starts by describing the highlights of the behavioral finance literature and identifying some of the weaknesses of this literature. The remainder of the volume has two main objectives: To discuss works which have emerged since the past surveys appeared, or which those surveys overlooked for one reason or another. To present some ideas about trends toward a unifying framework for behavioral finance that captures some of the rigor in neoclassical finance. Behavioralizing Finance provides a structured approach to behavioral finance in respect to underlying psychological concepts, formal framework, testable hypotheses, and empirical findings. A key theme of the volume is that the future of finance will combine realistic assumptions from behavioral finance and rigorous analysis from neoclassical finance."

Behavioral Corporate Finance


Behavioral Corporate Finance
  • Author : Hersh Shefrin
  • Publisher : McGraw-Hill Education
  • Release : 2017-03-13
  • ISBN : 1259277208
  • Language : En, Es, Fr & De
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Behavioral Corporate Finance provides instructors with a comprehensive pedagogical approach for teaching students how behavioral concepts apply to corporate finance. The primary goal is to identify the key psychological obstacles to value maximizing behavior, along with steps that managers can take to mitigate the effects of these obstacles.