BASIC CONCEPTS OF BEHAVIORAL FINANCE THEORY
Teodor Sedlarski and
Gergana Dimitrova ()
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Gergana Dimitrova: Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski
Yearbook of the Faculty of Economics and Business Administration, Sofia University, 2014, vol. 12, issue 1, 195-219
Abstract:
This article analyzes the basic concepts of behavior finance and its implied model of the economic agent which differs from the ‘homo economicus’ of traditional finance theory. Systematized are the more realistic assumptions regarding human decision making which stem from research in cognitive psychology and increasingly experimental economics. Outlined are implications for a methodologically more advanced public finance. Possibilities for enhanced economic policy recommendations are derived.
Keywords: behavioral finance; public sector; prospect theory; efficient market hypothesis; rationality. (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:sko:yrbook:v:12:y:2014:i:1:p:195-219
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