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A behavioral approach to asset pricing

紀錄類型:	書目-語言資料,印刷品 : 單行本
作者:	ShefrinHersh, 1948-
其他團體作者:	ScienceDirect (Online service)
出版地:	Amsterdam
出版者:	Academic Press/Elsevier;
出版年:	c2008.
版本:	2nd ed.
面頁冊數:	xxvii, 604 p.ill. : 24 cm.;
集叢名:	Academic Press advanced finance series
標題:	Capital assets pricing model. -
標題:	Risk management. -
標題:	Electronic books. -
電子資源:	http://www.sciencedirect.com/science/book/9780123743565
附註:	Electronic reproduction. Amsterdam : Elsevier Science & Technology, 2008.
摘要註:	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. In this 2nd Edition Hersh Shefrin examines the reigning assumptions of asset pricing theory and reconstructs them to incorporate findings from behavioral finance. In other words, he takes the traditional tools in asset pricing and behavioralizes them. He constructs a solid, intact structure that challenges classic assumptions and at the same time provides a strong theory and efficient empirical tools. Building on the models developed by both traditional asset pricing theorists and behavioral asset pricing theorists, Shefrin's book takes the discussion to the next step. He provides a general behaviorally based intertemporal treatment of asset pricing theory that extends to the discussion of derivatives, fixed income securities, mean-variance efficient portfolios, and the market portfolio, based on all the latest research and 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 * A companion website contains a series of examples worked out as Excel spreadsheets so that readers can input their own data to test the results.
ISBN:	0123743567
內容註:	Preface Preface to the Second Edition Introduction I Heuristics and Representativeness: Experimental Evidence Representativeness and Bayes Rule: Psychological Perspective Representativeness and Bayes Rule: Economics Perspective A Simple Asset Pricing Model Featuring Representativeness Heterogeneous Judgements in Experiments II Heuristics and Representativeness: Investor Expectations Representativeness and Heterogeneous Beliefs Among Individual Investors, Financial Executives, and Academics Representativeness and Heterogeneity in the Judgements of Professional Investors III Developing Behavioral Asset Pricing Models A Simple Asset Pricing Model with Heterogeneous Beliefs Heterogeneous Beliefs and Inefficient Markets A Simple Market Model of Prices and Trading Volume Efficiency and Entropy: Long-run Dynamics IV Heterogeneity in Risk Tolerance and Time Discounting CRRA and CARA Utility Functions Heterogeneous Risk Tolerance and Time Preference Representative Investors in a Heterogeneous CRRA Model IV Sentiment and Behavioral SDF Sentiment Behavioral SDF and the Sentiment Premium VI Applications and Behavioral SDF Behavioral Betas and Mean-Variance Portfolios Cross-section of Return Expectations Testing for a Sentiment Premium A Behavioral Approach to the Term Structure of Interest Rates Behavioral Black-Scholes Irrational Exuberance and Option Smiles Empirical Evidence in Support of Behavioral SDF VII Prospect Theory Prospect Theory: Introduction Behavioral Portfolios Equilibrium with Behavioral Preferences Pricing and Prospect Theory: Empirical Studies Reflections on the Equity Premium Puzzle Continuous Time Behavioral Equilibrium Models Conclusion References.

A behavioral approach to asset pricing
Shefrin, Hersh

A behavioral approach to asset pricing / Hersh Shefrin. - 2nd ed.. - Amsterdam : Academic Press/Elsevier, c2008.. - xxvii, 604 p. ; ill. ; 24 cm.. - (Academic Press advanced finance series).
Preface.
Electronic reproduction. Amsterdam : Elsevier Science & Technology, 2008..
Includes bibliographical references (p. [563]-586) and index..
ISBN 0123743567ISBN 9780123743565
Capital assets pricing model.Risk management.Electronic books.

A behavioral approach to asset pricing
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320 $a Includes bibliographical references (p. [563]-586) and index.
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