Advances in Behavioral Finance, Volume II

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.

Advances in Behavioral Finance, Volume II

Richard H. Thaler

Russell sage foundation new york princeton university press princeton and oxford

2005

Abstract

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 contents of the book include 6 parts, 19 chapters:

+ Chapter 1: Survey of Behavioral Finance

- Part I: Limits to Arbitrage

+ Chapter 2: The Limits of Arbitrage

+ Chapter 3: How Are Stock Prices Affected

+ Chapter 4: Can the Market Add and Subtract? Mispricing in Tech Stock Carve-outs

- Part II: Stock Returns and the Equity Premium

+ Chapter 5: Valuation Ratios and the Long-run Stock Market Outlook: An Update

+ Chapter 6: Myopic Loss Aversion and the Equity Premium Puzzle

+ Chapter 7: Prospect Theory and Asset Prices

- Part III: Empirical Studies of Overreaction and Underreaction

+ Chapter 8: Contrarian Investment, Extrapolation, and Risk

+ Chapter 9: Evidence on the Characteristics of Cross-sectional Variation in Stock Returns

+ Chapter 10: Momentum

+ Chapter 11: Market Efficiency and Biases in Brokerage Recommendations

- Part IV: Theories of Overreaction and Underreaction

+ Chapter 12: A Model of Investor Sentiment

+ Chapter 13: Investor Psychology and Security Market Under- and Overreaction

+ Chapter 14: A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets

- Part V: Investor Behavior

+ Chapter 15: Individual Investors

+ Chapter 16: Naive Diversification Strategies in Defined Contribution Savings Plan

- Part VI: Corporate Finance

+ Chapter 17: Rational Capital Budgeting in an Irrational World

+ Chapter 18: Earnings Management to Exceed Thresholds

+ Chapter 19: Managerial Optimism and Corporate Finance

Citation

Richard H. Thaler. Advances in Behavioral Finance, Volume II. Russell sage foundation new york princeton university press princeton and oxford, 2005.

Collection

Bộ sưu tập Lĩnh vực Kinh tế

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