Behavioral Finance Psychology, Decision-Making, and Markets

ISBN-10: 0324661177

ISBN-13: 9780324661170

Edition: 2010

Authors: Lucy Ackert, Richard Deaves

List price: $244.95
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Description:

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.
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Book details

List price: $244.95
Copyright year: 2010
Publisher: Cengage South-Western
Publication date: 9/23/2009
Binding: Hardcover
Pages: 432
Size: 7.50" wide x 9.25" long x 0.75" tall
Weight: 1.782
Language: English

Richard Deaves is Professor of Finance at the DeGroote School of Business, McMaster University. There and elsewhere he has taught a variety of courses, including Behavioral Finance, Security Analysis and Portfolio Management, Derivatives, and Applied Investment Management. In addition to McMaster, Dr. Deaves has visited at the University of Toronto, Concordia University, Thammasat University, Tsinghua University, and others. Dr. Deaves research publications have appeared in numerous journals, such as the Journal of Financial and Quantitative Analysis, the Journal of Banking and Finance, and the Journal of Monetary Economics. His main research interests have included behavioral finance, investor knowledge and pension fund design, experimental asset markets, investment fund performance, fixed-income return enhancement, modeling and predicting interest rates, pricing and hedging futures, and the relationship between financial markets and the macroeconomy. Additionally, Dr. Deaves has consulted for large and small private firms as well as government agencies. He has also provided expert testimony in a number of legal proceedings. He has previously published two books: What Kind of an Investor Are You? (Insomniac Press) and Canadian Finance: A Concise Introduction (DFS Press).

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
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