Behavioral Finance:The Coming of Age

Itzhak Venezia
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Itzhak Venezia: The Academic College of Tel Aviv-Yaffo, Israel & The Hebrew University of Jerusalem, Israel

in World Scientific Books from World Scientific Publishing Co. Pte. Ltd.

Abstract: The area of behavioral finance, though relatively young, has matured and spread beyond its initial objectives: to demonstrate the fallibility of the efficient market hypothesis, to shake the belief in the ubiquity of rational decision making, and to convince the finance world of the importance of psychological biases in decision making. The success of the field in meeting its goals, however, has called into question its continued relevance. Behavioral finance is thus currently at a crossroads, and researchers need to decide which way they should turn for the area to continue to thrive and to meaningfully contribute to financial knowledge.

Keywords: Behavioral Economics; Behavioral Finance; Behavioral Macro-Finance; Decision Making; Disposition Effect; Financial Crisis; Financial Decision-Making; Financial Market Anomalies; Fintech; Gender Differences; Heuristics; Information Processing Style; International Contagion Market Design; Monetary Policy; Mood; Optimal Portfolio; Overreaction; Peer-to-Peer Lending; Political Economics; Time Pressure; Transparency (search for similar items in EconPapers)
JEL-codes: G30 G41 (search for similar items in EconPapers)
Date: 2019
ISBN: 9789813279452
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Chapters in this book:

Ch 1 A Second Generation Behavioral Finance , pp 3-21

Meir Statman

Ch 2 New Governance for Entrepreneurship, Innovation and Startups: Behavioral Finance to the Rescue , pp 25-35

Jaime Amsel

Ch 3 Time is Money: The Advantages of Quick and Intuitive Financial Decision-Making , pp 37-56

Lidor Krava, Shahar Ayal and Guy Hochman

Ch 4 Optimal Asset Allocation with Heterogeneous Persistent Shocks and Myopic and Intertemporal Hedging Demand , pp 57-108

Domenica Di Virgilio, Fulvio Ortu, Federico Severino and Claudio Tebaldi

Ch 5 Adaptive Sovereign Bond Investment Strategies During Financial Crises: An Experiment with Financial Professionals , pp 109-164

Michal Paserman

Ch 6 A Survey of Behavioral Macro-Finance , pp 167-185

Na Young Park

Ch 7 Market Architecture and Global Exchange Efficiency: One Design Need Not Fit All Stock Sizes , pp 187-243

Peter Swan and Joakim Westerholm

Ch 8 International Financial Contagion During the Subprime Crisis: Evidence from UK Financial Markets , pp 245-284

Zijun Liu, Yang Zhou and Zhiping Zhou

Ch 9 Behavioral Monetary Policymaking: Economics, Political Economy and Psychology , pp 285-329

Donato Masciandaro and Davide Romelli

Ch 10 The Relation between Executive Compensation and Corporate Social Responsibility , pp 331-364

Ivan Brick, Oded Palmon and Itzhak Venezia

Ch 11 Behavioral Biases in Peer-to-Peer (P2P) Lending , pp 367-400

Shahar Ayal, Daphna Bar-Haim and Moran Ofir

Ch 12 Psychological Aspects of Large Stock Price Changes , pp 401-427

Andrey Kudryavtsev

Ch 13 The Effect of Gender Differences on the Emergence of the Disposition Effect , pp 429-452

Ori Be’eri, Haim Kedar-Levy and Moty Amar

Ch 14 Is the Early Bird Too Early? Looking for Evidence of the Disposition Effect in the Emerging Markets of Modern and Contemporary Chinese Art , pp 453-473

Yevgeny Mugerman and Ada Elkin

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