000			01814nam a22002297a 4500
999			_c1788 _d1788
005			20220322121219.0
008			220322b ||||| |||| 00| 0 eng d
020			_a9783319813516
082			_a332.6019 _bMIN
100			_aMing, Chen James _94704
245			_aFinance and the behavioral prospect: risk, exuberance, and abnormal markets
260			_bPalgrave Macmillan _aLondon _c2016
300			_axii, 343 p.
365			_aEURO _b99.99
520			_aIntroduction This book explains how investor behavior, from mental accounting to the combustible interplay of hope and fear, affects financial economics. The transformation of portfolio theory begins with the identification of anomalies. Gaps in perception and behavioral departures from rationality spur momentum, irrational exuberance, and speculative bubbles. Behavioral accounting undermines the rational premises of mathematical finance. Assets and portfolios are imbued with “affect.” Positive and negative emotions warp investment decisions. Whether hedging against intertemporal changes in their ability to bear risk or climbing a psychological hierarchy of needs, investors arrange their portfolios and financial affairs according to emotions and perceptions. Risk aversion and life-cycle theories of consumption provide possible solutions to the equity premium puzzle, an iconic financial mystery. Prospect theory has questioned the cogency of the efficient capital markets hypothesis. Behavioral portfolio theory arises from a psychological account of security, potential, and aspiration.
650			_aInvestments--Decision making _96099
650			_aInvestments--Psychological aspects _96100
650			_aRisk management _9177
650			_aCapital market _92947
650			_aEconomics--Psychological aspects _91925
942			_2ddc _cBK