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Finance and the Behavioral Prospect

Name: Finance and the Behavioral Prospect
Brand: Springer International Publishing AG
SKU: 9783319327105
Price: 2312 CZK
Availability: InStock

Risk, Exuberance, and Abnormal Markets

Autor: James Chen

Jazyk:

Vazba: Pevná

Vydavatel: Springer International Publishing AG

Dostupnost: Skladem u dodavatele

Odesíláme za 10-13 dnů

2 312 Kč

This book explains how investor behavior, from mental accounting to the combustible interplay of hop...

Informace o knize

Autor

James Chen

Jazyk

Angličtina

Vazba

Kniha - Pevná

Vydáno

2016

Stránek

343

EAN

9783319327105

ISBN

3319327100

Enbook ID

02961475

Vydavatel

Springer International Publishing AG

Hmotnost

591

Rozměry

148 x 210 x 28

Kompletní popis

This book explains how investor behavior, from mental accounting to the combustible interplay of hope and fear, affects financial economics. The transformation of portfolio theory begins with the identification of anomalies. Gaps in perception and behavioral departures from rationality spur momentum, irrational exuberance, and speculative bubbles. Behavioral accounting undermines the rational premises of mathematical finance. Assets and portfolios are imbued with "affect." Positive and negative emotions warp investment decisions. Whether hedging against intertemporal changes in their ability to bear risk or climbing a psychological hierarchy of needs, investors arrange their portfolios and financial affairs according to emotions and perceptions. Risk aversion and life-cycle theories of consumption provide possible solutions to the equity premium puzzle, an iconic financial mystery. Prospect theory has questioned the cogency of the efficient capital markets hypothesis. Behavioral portfolio theory arises from a psychological account of security, potential, and aspiration.