Download or read book Unraveling the Disposition Effect written by Barbara Summers and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates experimentally the role of emotions in a robust behavioral anomaly, the disposition effect. We manipulate choice and responsibility for subsequent gains and losses, thus influencing the anticipated and experienced emotions at play. Merely experiencing a gain or loss, in the absence of responsibility, is not sufficient to produce a disposition effect, thus supporting recent theoretical claims that prospect theory alone can not explain the disposition effect. Introducing the emotions of rejoicing or regret, via choice and responsibility, is sufficient to produce a disposition effect. We conclude that emotions have an important role to play in economic decisions. PLEASE NOTE: The final outcome of this line of work, with additional studies, is now in-press for OBHDP online.
Download or read book Monita selecta ad informandos mores maxime ponderanda seu conceptus morales de diversis written by and published by . This book was released on 1713 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regret Pride and the Disposition Effect written by Alexander Muermann and published by . This book was released on 2014 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a dynamic portfolio choice model which incorporates anticipated regret and pride in individual's preferences and show that those preferences can cause investors to sell winning stocks and hold on to losing stocks; that is, anticipating regret and pride can help explain the disposition effect.
Download or read book What Drives the Disposition Effect written by Nicholas Barberis and published by . This book was released on 2006 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most striking portfolio puzzles is the "disposition effect": the tendency of individuals to sell stocks in their portfolios that have risen in value since purchase, rather than fallen in value. Perhaps the most prominent explanation for this puzzle is based on prospect theory. Despite its prominence, this explanation has received little formal scrutiny. We take up this task, and analyze the trading behavior of investors with prospect theory preferences. We find that, at least for the simplest implementation of prospect theory, the link between these preferences and the disposition effect is not as obvious as previously thought: in some cases, prospect theory does indeed predict a disposition effect, but in others, it predicts the opposite. We provide intuition for these results, and identify the conditions under which the disposition effect holds or fails. We also discuss the implications of our results for other disposition-type effects that have been documented in settings such as the housing market, futures trading, and executive stock options.
Download or read book The Disposition Effect in Team Investment Decisions written by Holger Andreas Rau and published by . This book was released on 2015 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper experimentally studies the disposition effects of teams and individuals. The disposition effect describes the phenomenon that investors are reluctant to realize losses, whereas winners are sold too early. Our experiments compare the investments of two-person teams to a setting where investors trade alone. We find that subjects investing jointly exhibit more pronounced disposition effects than individuals. A closer look reveals that investor teams hardly realize losses and predominately sell winners. The data suggest that decision-dependent emotions may explain the differences. That is, teams reporting high levels of regret exhibit significantly higher disposition effects than individuals.
Download or read book The Disposition Effect Trading Biases and Cognitive Reappraisal written by Paul Grayson and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Behavioral Finance The Coming Of Age written by Venezia Itzhak and published by World Scientific. This book was released on 2019-04-18 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: The area of behavioral finance, though relatively young, has matured and spread beyond its initial objectives: to demonstrate the fallibility of the efficient market hypothesis, to shake the belief in the ubiquity of rational decision making, and to convince the finance world of the importance of psychological biases in decision making. The success of the field in meeting its goals, however, has called into question its continued relevance. Behavioral finance is thus currently at a crossroads, and researchers need to decide which way they should turn for the area to continue to thrive and to meaningfully contribute to financial knowledge.This collection of papers deals with rarely-explored topics to point at new directions that behavioral finance should explore to maintain its viability, along with contributions to traditional topics. Some of these topics include innovations, the psychology of policy-makers, biases of peer-to-peer market participants, the behavior and motivation behind corporate social responsibility, and the design of exchanges. Additionally, well-known topics such as the disposition effect, slow and fast decisions and the availability heuristic are revisited, and surprising new findings are presented.By opening the field to novel avenues of discussion, this book addresses the future of behavioral finance and its transition into a new era.
Download or read book Handbook of the Economics of Finance written by George M. Constantinides and published by Newnes. This book was released on 2013-02-08 with total page 873 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 12 articles in this second of two parts condense recent advances on investment vehicles, performance measurement and evaluation, and risk management into a coherent springboard for future research. Written by world leaders in asset pricing research, they present scholarship about the 2008 financial crisis in contexts that highlight both continuity and divergence in research. For those who seek authoritative perspectives and important details, this volume shows how the boundaries of asset pricing have expanded and at the same time have grown sharper and more inclusive. Offers analyses by top scholars of recent asset pricing scholarship Explains how the 2008 financial crises affected theoretical and empirical research Covers core and newly developing fields
Download or read book Behavioral Finance The Second Generation written by Meir Statman and published by CFA Institute Research Foundation. This book was released on 2019-12-02 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral finance presented in this book is the second-generation of behavioral finance. The first generation, starting in the early 1980s, largely accepted standard finance’s notion of people’s wants as “rational” wants—restricted to the utilitarian benefits of high returns and low risk. That first generation commonly described people as “irrational”—succumbing to cognitive and emotional errors and misled on their way to their rational wants. The second generation describes people as normal. It begins by acknowledging the full range of people’s normal wants and their benefits—utilitarian, expressive, and emotional—distinguishes normal wants from errors, and offers guidance on using shortcuts and avoiding errors on the way to satisfying normal wants. People’s normal wants include financial security, nurturing children and families, gaining high social status, and staying true to values. People’s normal wants, even more than their cognitive and emotional shortcuts and errors, underlie answers to important questions of finance, including saving and spending, portfolio construction, asset pricing, and market efficiency.
Download or read book Cervantes Aristotle and the Persiles written by Alban K. Forcione and published by Princeton University Press. This book was released on 2015-03-08 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Any student of Cervantes' literary production must at some point take into account the theories that inspired the plan and creation of Los Trabajos de Persiles y Sigismunda for, of all Cervantes' works, it is the one most directly related to the author's awareness of literary theory. This volume, in attempting to clarify the Persiles, traces the major influences reflected in the Renaissance literary theories which inspired it, examines Cervantes' ambivalent attitude toward those theories as revealed in his works, and provides a close examination of the structure of the Persiles. Originally published in 1970. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Download or read book Behavioral Finance written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2010-10-01 with total page 1184 pages. Available in PDF, EPUB and Kindle. Book excerpt: A definitive guide to the growing field of behavioral finance This reliable resource provides a comprehensive view of behavioral finance and its psychological foundations, as well as its applications to finance. Comprising contributed chapters written by distinguished authors from some of the most influential firms and universities in the world, Behavioral Finance provides a synthesis of the most essential elements of this discipline, including psychological concepts and behavioral biases, the behavioral aspects of asset pricing, asset allocation, and market prices, as well as investor behavior, corporate managerial behavior, and social influences. Uses a structured approach to put behavioral finance in perspective Relies on recent research findings to provide guidance through the maze of theories and concepts Discusses the impact of sub-optimal financial decisions on the efficiency of capital markets, personal wealth, and the performance of corporations Behavioral finance has quickly become part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.
Download or read book Social Science written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2023-11-07 with total page 898 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Social Science The study of communities and the connections between individuals within those societies is the focus of one of the sub-disciplines of the scientific discipline known as "social science." Historically, people used this term to refer to the academic discipline of sociology, which was the first "science of society" to be developed in the 19th century. In modern times, sociology has expanded to incorporate a vast number of other academic fields, such as anthropology, archaeology, economics, human geography, linguistics, management science, communication science, and political science, in addition to sociology itself. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Social science Chapter 2: Interdisciplinarity Chapter 3: Fiscal policy Chapter 4: Musicology Chapter 5: Political science Chapter 6: Phillips curve Chapter 7: Economic policy Chapter 8: Discourse analysis Chapter 9: Behavioural sciences Chapter 10: Philosophy of social science Chapter 11: European studies Chapter 12: History of the social sciences Chapter 13: Macroeconomics Chapter 14: Keynesian economics Chapter 15: Stagflation Chapter 16: Inflation Chapter 17: Sociology Chapter 18: Monetarism Chapter 19: Full employment Chapter 20: New Keynesian economics Chapter 21: Index of economics articles (II) Answering the public top questions about social science. (III) Real world examples for the usage of social science in many fields. (IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of social science Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of social science.
Download or read book Placebo and Pain written by Luana Colloca and published by Academic Press. This book was released on 2013-08-28 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The placebo effect continues to fascinate scientists, scholars, and clinicians, resulting in an impressive amount of research, mainly in the field of pain. While recent experimental and clinical studies have unraveled salient aspects of the neurobiological substrates and clinical relevance of pain and placebo analgesia, an authoritative source remained lacking until now. By presenting and integrating a broad range of research, Placebo and Pain enhances readers’ knowledge about placebo and nocebo effects, reexamines the methodology of clinical trials, and improves the therapeutic approaches for patients suffering from pain. Review for Placebo and Pain:“This ambitious book is the first comprehensive and unified presentation of the placebo and nocebo phenomena in the area of pain. Written by the international leading experts in the field, the book provides an accurate up-to-date [work] on placebo and pain dealing with current perspectives and future challenging issues. --Ted Kaptchuk, Associate Professor of Medicine, Harvard Medical School Contains historical aspects of the placebo effect Discusses biological and psychological mechanisms of placebo analgesic responses Reviews implications of the placebo effect for clinical research and pain management Includes methodological and ethical aspects of the placebo effect
Download or read book Recent Trends in Finance written by Dr.B.Hari Babu and published by Archers & Elevators Publishing House. This book was released on with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mental Accounting written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-03-28 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Mental Accounting Mental accounting is a model of consumer behaviour developed by Richard Thaler that attempts to describe the process whereby people code, categorize and evaluate economic outcomes. Mental accounting incorporates the economic concepts of prospect theory and transactional utility theory to evaluate how people create distinctions between their financial resources in the form of mental accounts, which in turn impacts the buyer decision process and reaction to economic outcomes. People are presumed to make mental accounts as a self control strategy to manage and keep track of their spending and resources. People budget money into mental accounts for savings or expense categories. People also are assumed to make mental accounts to facilitate savings for larger purposes. Mental accounting can result in people demonstrating greater loss aversion for certain mental accounts, resulting in cognitive bias that incentivizes systematic departures from consumer rationality. Through increased understanding of mental accounting differences in decision making based on different resources, and different reactions based on similar outcomes can be greater understood. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Mental accounting Chapter 2: Utility Chapter 3: Behavioral economics Chapter 4: Risk aversion Chapter 5: Prospect theory Chapter 6: Consumer choice Chapter 7: Coase theorem Chapter 8: Loss aversion Chapter 9: Expected utility hypothesis Chapter 10: Status quo bias Chapter 11: Endowment effect Chapter 12: Richard Thaler Chapter 13: Hyperbolic discounting Chapter 14: Equity premium puzzle Chapter 15: Social value orientations Chapter 16: Regret (decision theory) Chapter 17: Choice architecture Chapter 18: Willingness to accept Chapter 19: Preference (economics) Chapter 20: Preference Chapter 21: Uncertainty effect (II) Answering the public top questions about mental accounting. (III) Real world examples for the usage of mental accounting in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Mental Accounting.
Download or read book Military Incompetence written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-06-19 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Military Incompetence Military incompetence refers to incompetencies and failures of military organisations, whether through incompetent individuals or through a flawed institutional culture. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Military incompetence Chapter 2: Hierarchical organization Chapter 3: Peter principle Chapter 4: Social psychology Chapter 5: Heuristic Chapter 6: Decision-making Chapter 7: List of cognitive biases Chapter 8: Organizational structure Chapter 9: Political psychology Chapter 10: Dunning-Kruger effect (II) Answering the public top questions about military incompetence. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Military Incompetence.
Download or read book Preclinical Drug Development written by Mark Rogge and published by CRC Press. This book was released on 2016-04-19 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Preclinical Drug Development, Second Edition discusses the broad and complicated realm of preclinical drug development. Topics range from assessment of pharmacology and toxicology to industry trends and regulatory expectations to requirements that support clinical trials. Highlights of the Second Edition include: PharmacokineticsModeling and simula
