A Behavioral Approach to Asset Pricing

Hersh Shefrin
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Hersh Shefrin: Mario L. Belotti Professor of Finance, Leavey School of Business, Santa Clara University, CA, USA

in Elsevier Monographs from Elsevier, currently edited by Candice Janco

Abstract: 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. Incorporating the latest research and theory, Shefrin offers both a strong theory and efficient empirical tools that address derivatives, fixed income securities, mean-variance efficient portfolios, and the market portfolio. The book provides a series of examples to illustrate the theory. The second edition continues the tradition of the first edition by being the one and only book to focus completely on how behavioral finance principles affect asset pricing, now with its theory deepened and enriched by a plethora of research since the first edition

Keywords: investor; Bayes rule; market efficiency; trading; sentiment; interest rate; prospect theory; returns (search for similar items in EconPapers)
Date: 2008 Originally published 2008-05-19.
Edition: 2
ISBN: 978-0-12-374356-5
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Citations: View citations in EconPapers (109)

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