Rethinking Traditional Paradigms : an Introduction to Behavioural Finance

• Autorzy: Anna Cieślak
• Języki publikacji: EN

Abstrakty

EN

My objective in this paper is to review the core findings in behavioural literature. This overview is structured around two problems: market inefficiency and agents' irrationality. First, in order to place behavioural finance among other theories, I present the traditional framework for modeling financial markets (section 2). Second, I discuss some market phenomena that cannot be plausibly explained in terms of traditional finance. In the third step, some of the behavioural explanations are introduced as an alternative to the well-established paradigms (section 3). This part has been split into two main building blocks of behavioural research: limits to arbitrage (section 4) and psychology of market participants (section 5). Then, the concluding remarks follow (section 6).(fragment of text)

Słowa kluczowe

EN

Behavioural finance; Financial markets; Stock market; Psychological aspects of economics

PL

Finanse behawioralne; Rynki finansowe; Giełda papierów wartościowych; Psychologiczne aspekty ekonomii

• Czasopismo: Studia i Prace Kolegium Zarządzania i Finansów / Szkoła Główna Handlowa
• Rocznik: 2003
• Numer: z. 33
• Strony: 21--40

Twórcy

autor

Anna Cieślak

• Warsaw School of Economics, Poland

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