Download or read book Cognitive Finance written by Philipp Erik Otto and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research in economics is increasingly open to empirical results. The advances in behavioural approaches are expanded here by applying cognitive methods to financial questions. The field of "cognitive finance" is approached by the exploration of decision strategies in the financial settings of spending, saving, and investing. Individual strategies in these different domains are searched for and elaborated to derive explanations for observed irregularities in financial decision making. Strong context-dependency and adaptive learning form the basis for this cognition-based approach to finance. Experiments, ratings, and real world data analysis are carried out in specific financial settings, combining different research methods to improve the understanding of natural financial behaviour.
Download or read book Behavioral Finance written by Edwin T. Burton and published by John Wiley & Sons. This book was released on 2013-03-20 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look into the various aspects of behavioral finance Behavioral finance applies systematic analysis to ideas that have long floated around the world of trading and investing. Yet it is important to realize that we are still at a very early stage of research into this discipline and have much to learn. That is why Edwin Burton has written Behavioral Finance: Understanding the Social, Cognitive, and Economic Debates. Engaging and informative, this timely guide contains valuable insights into various issues surrounding behavioral finance. Topics addressed include noise trader theory and models, research into psychological behavior pioneered by Daniel Kahneman and Amos Tversky, and serial correlation patterns in stock price data. Along the way, Burton shares his own views on behavioral finance in order to shed some much-needed light on the subject. Discusses the Efficient Market Hypothesis (EMH) and its history, and presents the background of the emergence of behavioral finance Examines Shleifer's model of noise trading and explores other literature on the topic of noise trading Covers issues associated with anomalies and details serial correlation from the perspective of experts such as DeBondt and Thaler A companion Website contains supplementary material that allows you to learn in a hands-on fashion long after closing the book In order to achieve better investment results, we must first overcome our behavioral finance biases. This book will put you in a better position to do so.
Download or read book ARTIFICIAL INTELLIGENCE AND BUSINESS TRANSFORMATION IN FINANCIAL SERVICES written by CLARA. DURODIE and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of Poverty Traps written by Christopher B. Barrett and published by University of Chicago Press. This book was released on 2018-12-07 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: What circumstances or behaviors turn poverty into a cycle that perpetuates across generations? The answer to this question carries especially important implications for the design and evaluation of policies and projects intended to reduce poverty. Yet a major challenge analysts and policymakers face in understanding poverty traps is the sheer number of mechanisms—not just financial, but also environmental, physical, and psychological—that may contribute to the persistence of poverty all over the world. The research in this volume explores the hypothesis that poverty is self-reinforcing because the equilibrium behaviors of the poor perpetuate low standards of living. Contributions explore the dynamic, complex processes by which households accumulate assets and increase their productivity and earnings potential, as well as the conditions under which some individuals, groups, and economies struggle to escape poverty. Investigating the full range of phenomena that combine to generate poverty traps—gleaned from behavioral, health, and resource economics as well as the sociology, psychology, and environmental literatures—chapters in this volume also present new evidence that highlights both the insights and the limits of a poverty trap lens. The framework introduced in this volume provides a robust platform for studying well-being dynamics in developing economies.
Download or read book Cognitive Capitalism written by Yann Moulier-Boutang and published by Polity. This book was released on 2011 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues that we are undergoing a transition from industrial capitalism to a new form of capitalism - what the author calls & lsquo; cognitive capitalism & rsquo;
Download or read book Financial Therapy written by Bradley T. Klontz and published by Springer. This book was released on 2014-09-10 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money-related stress dates as far back as concepts of money itself. Formerly it may have waxed and waned in tune with the economy, but today more individuals are experiencing financial mental anguish and self-destructive behavior regardless of bull or bear markets, recessions or boom periods. From a fringe area of psychology, financial therapy has emerged to meet increasingly salient concerns. Financial Therapy is the first full-length guide to the field, bridging theory, practical methods, and a growing cross-disciplinary evidence base to create a framework for improving this crucial aspect of clients' lives. Its contributors identify money-based disorders such as compulsive buying, financial hoarding, and workaholism, and analyze typical early experiences and the resulting mental constructs ("money scripts") that drive toxic relationships with money. Clearly relating financial stability to larger therapeutic goals, therapists from varied perspectives offer practical tools for assessment and intervention, advise on cultural and ethical considerations, and provide instructive case studies. A diverse palette of research-based and practice-based models meets monetary mental health issues with well-known treatment approaches, among them: Cognitive-behavioral and solution-focused therapies. Collaborative relationship models. Experiential approaches. Psychodynamic financial therapy. Feminist and humanistic approaches. Stages of change and motivational interviewing in financial therapy. A text that serves to introduce and define the field as well as plan for its future, Financial Therapy is an important investment for professionals in psychotherapy and counseling, family therapy, financial planning, and social policy.
Download or read book Cognitive Investing written by Rich Willis and published by AuthorHouse. This book was released on 2011-03 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investors ask the wrong questions. Will the stock market rise or fall in the next month? What is the best place to put my money right now? Will interest rates rise or fall? Will the economy improve or get worse? What will be the best performing stock during the next year? The problem with all of these questions is that the answers are unknowable and will always be so. Dwelling on the unknowable is a fruitless quest that will not bring investors any closer to achieving long-term financial goals. Our fundamental problem is that we are using the wrong part of the brain. Cognitive Investing explains how to make investment decisions using the portion of the brain better suited for the task and answers the questions investors should be asking. What is the relationship between the economy and the stock market? What is the difference between investing and gambling? Why is selling much more difficult than buying? How important is diversification? Why do natural psychological urges lead us to make poor investing decisions? Understanding the answers to these and many more essential questions will profoundly and fundamentally transform the way you approach investing.
Download or read book Behavioral Finance and Wealth Management written by Michael M. Pompian and published by John Wiley & Sons. This book was released on 2011-11-29 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book that applies behavioral finance to the real world Understanding how to use behavioral finance theory in investing is a hot topic these days. Nobel laureate Daniel Kahneman has described financial advising as a prescriptive activity whose main objective should be to guide investors to make decisions that serve their best interests. The reality? That's easier said than done. In the Second Edition of Behavioral Finance and Wealth Management, Michael Pompian takes a practical approach to the growing science of behavioral finance, and puts it to use for real investors. He applies knowledge of 20 of the most prominent individual investor biases into "behaviorally-modified" asset allocation decisions. Offering investors and financial advisors a "self-help" book, Pompian shows how to create investment strategies that leverage the latest cutting edge research into behavioral biases of individual investors. This book: Shows investors and financial advisors how to either moderate or adapt to behavioral biases, in order to improve investment results and identifies "the best practical allocation" for investment portfolios. Using these two sound approaches for guiding investment decision-making, behavioral biases are incorporated into the portfolio management process Uses updated cases studies to show investors and financial advisors how an investor's behavior can be modified to improve investment decision-making Provides useable methods for creating behaviorally modified investment portfolios, which may help investors to reach their long term financial goals Heightens awareness of biases so that financial decisions and resulting economic outcomes are improved Offers advice on managing the effects of each bias in order to improve investment results This Second Edition illustrates investors' behavioral biases in detail and offers financial advisors and their clients practical advice about how to apply the science of behavioral finance to improve overall investment decision making.
Download or read book BIASES and HEURISTICS written by Henry Priest and published by Independently Published. This book was released on 2019-07-06 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: Powerful Hidden Forces (Biases) Impair Our Decisions. Here is a Comprehensive Collection Biases to Help You Understand How They Work and How to Overcome Them Are you a manager in the financial services sector, and wish to avoid a situation like the recent financial crisis? Do you know that all of us have mental blind spots which prevent us from being rational? If you have seen or read about the recent financial crisis that straddled across the globe and brought down some of the oldest and most venerated financial institutions in the world, then you need this book! In this book, I share authentic research findings on cognitive biases and how they impact our judgment. These are powerful biases that you must avoid in order to succeed. Improve Your Judgment by Knowing How Biases Work This book is a comprehensive guide on cognitive biases, with inputs from real academic research with full references. If you are a financial sector executive and want to learn how to improve decisions, then this book is for you. In this book you will: * Identify the most powerful cognitive biases that impair business and financial decisions * Understand how cognitive biases work * Learn techniques to overcome them Here are the answers to some questions you might have about this book: Q: What is this book about? A: This book is a guide on how to identify cognitive biases. In this book, you learn about powerful biases which afflict the world of business and banking. Understanding how biases work (Bias-in-Action) can help avoid these biases, and at times even use the presence of biases in our competitors to our advantage. Q: What kind of techniques will I get to learn in this book? A: This is a comprehensive collection of all empirically proven cognitive biases that impair our decisions. In this book, I bring out the most powerful cognitive biases that impair judgment. You will also get to learn about more biases that impair decisions in business and banking. Q: Do I need to have prior qualifications before I read this book? A: The only thing that is required is your keenness to learn. Some experience in the financial sector or knowledge of basic economics can make the grasping faster, but it is not a prerequisite. Every day that you delay is another day that you stagnate in your growth as a manager-leader. Take action now and buy this book by clicking the 'Buy now with 1-click' button
Download or read book The Biology of Investing written by John R. Nofsinger and published by Routledge. This book was released on 2020-03-30 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do people’s financial and economic preferences vary so widely? ‘Nurture’ variables such as socioeconomic factors partially explain these differences, but scientists have been discovering that ‘nature’ also plays an important role. This is the first book to bring together these scientific insights for a holistic view of the role of human biology in financial decision-making. Geneticists are now examining which genetic markers are associated with financial and economic preferences. Neuroscientists are now determining where in the brain financial decisions are made and how that varies between people. Endocrinologists relate the level of different hormones circulating in the body to financial risk-taking. Researchers are exploring how physiology and environmental conditions influence investment decisions, and how three types of cognitive ability play essential roles in investment success. This exciting and relevant work being done in these academic silos has generally not been transmitted among the scientific areas, or to industry. For the first time, this book integrates all these areas, explaining the myriad ways in which a person’s biology influences their investing decisions. Financial analysts, advisors, market participants, and upper-level undergraduate and postgraduate students of behavioral finance, behavioral economics, and investing will find this book invaluable, enabling a deeper understanding of investors’ decision-making processes. To further ensure this new material is accessible to students, PowerPoint slides are available online for instructors’ use.
Download or read book Economic Theory and Cognitive Science written by Don Ross and published by MIT Press. This book was released on 2007-01-26 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, Don Ross explores the relationship of economics to other branches of behavioral science, asking, in the course of his analysis, under what interpretation economics is a sound empirical science. The book explores the relationships between economic theory and the theoretical foundations of related disciplines that are relevant to the day-to-day work of economics—the cognitive and behavioral sciences. It asks whether the increasingly sophisticated techniques of microeconomic analysis have revealed any deep empirical regularities—whether technical improvement represents improvement in any other sense. Casting Daniel Dennett and Kenneth Binmore as its intellectual heroes, the book proposes a comprehensive model of economic theory that, Ross argues, does not supplant, but recovers the core neoclassical insights, and counters the caricaturish conception of neoclassicism so derided by advocates of behavioral or evolutionary economics. Because he approaches his topic from the viewpoint of the philosophy of science, Ross devotes one chapter to the philosophical theory and terminology on which his argument depends and another to related philosophical issues. Two chapters provide the theoretical background in economics, one covering developments in neoclassical microeconomics and the other treating behavioral and experimental economics and evolutionary game theory. The three chapters at the heart of the argument then apply theses from the philosophy of cognitive science to foundational problems for economic theory. In these chapters, economists will find a genuinely new way of thinking about the implications of cognitive science for economics, and cognitive scientists will find in economic behavior, a new testing site for the explanations of cognitive science.
Download or read book Psychology of Financial Planning written by Brad Klontz and published by John Wiley & Sons. This book was released on 2022-09-15 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Psychology of Financial Planning: The Practitioner’s Guide to Money and Behavior In PSYCHOLOGY OF FINANCIAL PLANNING: The Practitioner’s Guide to Money and Behavior, distinguished authors Drs. Brad Klontz, CFP®, Charles Chaffin, and Ted Klontz deliver a comprehensive overview of the psychological factors that impact the financial planning client. Designed for both professional and academic audiences, PSYCHOLOGY OF FINANCIAL PLANNING is written for those with 30 years in practice as well as those just beginning their journey. With a focus on how psychology can be applied to real-world financial planning scenarios, PSYCHOLOGY OF FINANCIAL PLANNING provides a much-needed toolbox for practicing financial planners who know that understanding their client’s psychology is critical to their ability to be effective. The PSYCHOLOGY OF FINANCIAL PLANNING is also a much-needed resource for academic institutions who now need to educate their students in the CFP Board’s newest category of learning objectives: psychology of financial planning. Topics include: Why we are bad with money Client and planner attitudes, values, & biases Financial flashpoints, money scripts, and financial behaviors Behavioral finance Sources of money conflict Principles of counseling Multicultural competence in financial planning General principles of effective communication Helping clients navigate crisis events Assessment in financial planning Ethical considerations in the psychology of financial planning Getting clients to take action Integrating financial psychology into the financial planning process PSYCHOLOGY OF FINANCIAL PLANNING goes beyond just theory to show how practitioners can use psychology to better serve their clients. The accompanying workbook provides exercises, scripts, and workshop activities for firms and practitioners who are dedicated to engaging and implementing the content in meaningful ways.
Download or read book Cognitive Processes and Economic Behaviour written by Marcello Basili and published by Routledge. This book was released on 2012-12-06 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years the understanding of the cognitive foundations of economic behavior has become increasingly important. This volume contains contributions from such leading scholars as Adam Brandenburger, Michael Bacharach and Patrick Suppes. It will be of great interest to academics and researchers involved in the field of economics and psychology as well as those interested in political economy more generally.
Download or read book PISA 2022 Assessment and Analytical Framework written by OECD and published by OECD Publishing. This book was released on 2023-08-31 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report presents the conceptual foundations of the OECD Programme for International Student Assessment (PISA), now in its eighth cycle of comprehensive and rigorous international surveys of student knowledge and skills that are essential for full participation in modern societies. As in previous cycles, the 2022 PISA assessment covered reading, mathematics and science, with a major focus on mathematics, plus an evaluation of students’ creative thinking and financial literacy skills.
Download or read book Towards a Cognitive Mode in Global Finance written by Torsten Strulik and published by Campus Verlag. This book was released on 2006 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global finance system has been the subject of hot debate for several years. Major players such as the International Monetary Fund and the World Bank have come under fire for their financial practices, while the role of epistemic authorities, including rating agencies, remains unclear. This book systematically analyzes the role knowledge plays in global finance reform by considering its influence in the empirical areas of finance (banking, accounting, and bond rating, for example). As the contributors demonstrate, current institutional management strategies reflect a shift toward "cognitive," or learning-based modes of managing financial and political risks--and this cognitive thinking has its own consequences for the global marketplace.
Download or read book BEHAVIOURAL FINANCE written by M. M. SULPHEY and published by PHI Learning Pvt. Ltd.. This book was released on 2014-09-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive, lucidly written text is an ideal introduction to behavioural finance. The book caters to the needs of both undergraduate and postgraduate management courses. It covers almost all important topics of behavioural finance prescribed in the syllabi of various universities across India, including Neurofinance and Forensic Accounting, which have rare occurrence in other books but are important from future perspective. There is a dearth of literature in behavioural finance, and if available, then the books are of large volumes, written by foreign authors citing examples and case studies from the countries other than India. Hence, the present book aims at providing information in global scenario, particularly Indian cases. A number of case studies and box items make this text interesting and informative. Review questions given at the end of each chapter help students in assessing their knowledge after having learned the concepts. Overall, the book will help readers in gaining adequate knowledge of the subject.
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 257 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.
