The potential contributions of behavioral finance to Post Keynesian and institutionalist finance theories

Matthew V. Fung

Journal of Post Keynesian Economics, 2011, vol. 33, issue 4, 555-574

Abstract: In their paper "Behavioral Finance and Post Keynesian-Institutionalist Theories of Financial Markets," Raines and Leathers discuss how the theories of Keynes, Davidson, and Galbraith could explain financial bubbles and crises and show how those theories are both confirmed by actual events and supported by some findings in behavioral finance. The current paper comments on their discussion and explores the potential contributions of behavioral finance to future developments of Post Keynesian and Institutionalist theories in other fields in finance, especially portfolio theory and asset pricing theory.

Keywords: asset pricing theory; behavioral finance; financial bubbles; portfolio theory (search for similar items in EconPapers)
Date: 2011
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