Benchmarks and indexing: A behavioural perspective

H Shefrin ()
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H Shefrin: Mario L Belotti Professor of Finance, Santa Clara University, Leavey School of Business and Administration

Journal of Asset Management, 2000, vol. 1, issue 1, No 3, 19-38

Abstract: Abstract The psychology of risk explains a great deal about the manner in which all types of investors, from individuals to plan sponsors, structure portfolios. In this paper, I draw on core ideas in behavioural decision making to explain the psychology that underlies the use of benchmarks in evaluating and selecting portfolios. The reasons for the influence on portfolio choice of a combination of emotional and cognitive factors are discussed.

Keywords: benchmark; index; portfolio; risk; behavioural; psychology (search for similar items in EconPapers)
Date: 2000
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DOI: 10.1057/palgrave.jam.2240003

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