A behavioral approach to asset pricing /

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Behavioral finance is the study of how psychology affects financial decision making and financial markets. It is increasingly becoming the common way of understanding investor behavior and stock market activity. In this 2nd Edition Hersh Shefrin examines the reigning assumptions of asset pricing the...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Shefrin, Hersh, 1948-
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Amsterdam ; Boston : Academic Press/Elsevier, �2008.
Edición:2nd edition
Colección:Academic Press advanced finance series.
Temas:
Capital assets pricing model.
Risk management.
Mod�ele d'�evaluation des actifs financiers.
Gestion du risque.
risk management.
BUSINESS & ECONOMICS > Investments & Securities > General.
Acceso en línea:Texto completo
Texto completo
Tabla de Contenidos:
  • Preface
  • Preface to the Second Edition
  • Introduction
  • I Heuristics and Representativeness: Experimental Evidence
  • Representativeness and Bayes Rule: Psychological Perspective
  • Representativeness and Bayes Rule: Economics Perspective
  • A Simple Asset Pricing Model Featuring Representativeness
  • Heterogeneous Judgements in Experiments
  • II Heuristics and Representativeness: Investor Expectations
  • Representativeness and Heterogeneous Beliefs Among Individual Investors, Financial Executives, and Academics
  • Representativeness and Heterogeneity in the Judgements of Professional Investors
  • III Developing Behavioral Asset Pricing Models
  • A Simple Asset Pricing Model with Heterogeneous Beliefs
  • Heterogeneous Beliefs and Inefficient Markets
  • A Simple Market Model of Prices and Trading Volume
  • Efficiency and Entropy: Long-run Dynamics
  • IV Heterogeneity in Risk Tolerance and Time Discounting
  • CRRA and CARA Utility Functions
  • Heterogeneous Risk Tolerance and Time Preference
  • Representative Investors in a Heterogeneous CRRA Model
  • IV Sentiment and Behavioral SDF
  • Sentiment
  • Behavioral SDF and the Sentiment Premium
  • VI Applications and Behavioral SDF
  • Behavioral Betas and Mean-Variance Portfolios
  • Cross-section of Return Expectations
  • Testing for a Sentiment Premium
  • A Behavioral Approach to the Term Structure of Interest Rates
  • Behavioral Black-Scholes
  • Irrational Exuberance and Option Smiles
  • Empirical Evidence in Support of Behavioral SDF
  • VII Prospect Theory
  • Prospect Theory: Introduction
  • Behavioral Portfolios
  • Equilibrium with Behavioral Preferences
  • Pricing and Prospect Theory: Empirical Studies
  • Reflections on the Equity Premium Puzzle
  • Continuous Time Behavioral Equilibrium Models
  • Conclusion
  • References.

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