A behavioral approach to asset pricing:
Gespeichert in:
1. Verfasser: | |
---|---|
Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Amsterdam [u.a.]
Acad. Press
2008
|
Ausgabe: | 2. ed |
Schriftenreihe: | Academic Press advanced finance series
|
Schlagworte: | |
Online-Zugang: | BTU01 FAB01 FUBA1 Volltext |
Beschreibung: | 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 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 Includes bibliographical references (p. [563]-586) and index |
Beschreibung: | 1 Online-Ressource (XXVII, 604 S.) graph. Darst. |
ISBN: | 9780080482248 0080482244 |
Internformat
MARC
LEADER | 00000nmm a2200000zc 4500 | ||
---|---|---|---|
001 | BV039829993 | ||
003 | DE-604 | ||
005 | 20210718 | ||
007 | cr|uuu---uuuuu | ||
008 | 120124s2008 sz |||| o||u| ||||||eng d | ||
020 | |a 9780080482248 |c Online |9 978-0-08-048224-8 | ||
020 | |a 0080482244 |c Online |9 0-08-048224-4 | ||
024 | 7 | |a 10.1016/B978-0-12-374356-5.X5001-3 |2 doi | |
035 | |a (OCoLC)281598599 | ||
035 | |a (DE-599)BVBBV039829993 | ||
040 | |a DE-604 |b ger |e aacr | ||
041 | 0 | |a eng | |
044 | |a sz |c XA-CH | ||
049 | |a DE-634 |a DE-188 |a DE-1043 | ||
082 | 0 | |a 332.63/221 |2 22 | |
084 | |a QK 622 |0 (DE-625)141669: |2 rvk | ||
100 | 1 | |a Shefrin, Hersh |d 1948- |e Verfasser |0 (DE-588)122258665 |4 aut | |
245 | 1 | 0 | |a A behavioral approach to asset pricing |c Hersh Shefrin |
250 | |a 2. ed | ||
264 | 1 | |a Amsterdam [u.a.] |b Acad. Press |c 2008 | |
300 | |a 1 Online-Ressource (XXVII, 604 S.) |b graph. Darst. | ||
336 | |b txt |2 rdacontent | ||
337 | |b c |2 rdamedia | ||
338 | |b cr |2 rdacarrier | ||
490 | 0 | |a Academic Press advanced finance series | |
500 | |a 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 | ||
500 | |a 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 | ||
500 | |a Includes bibliographical references (p. [563]-586) and index | ||
650 | 4 | |a Capital assets pricing model | |
650 | 4 | |a Risk management | |
650 | 0 | 7 | |a Risikoverhalten |0 (DE-588)4050133-4 |2 gnd |9 rswk-swf |
650 | 0 | 7 | |a Kapitalanlage |0 (DE-588)4073213-7 |2 gnd |9 rswk-swf |
650 | 0 | 7 | |a Capital-Asset-Pricing-Modell |0 (DE-588)4121078-5 |2 gnd |9 rswk-swf |
650 | 0 | 7 | |a Anlageverhalten |0 (DE-588)4214003-1 |2 gnd |9 rswk-swf |
689 | 0 | 0 | |a Capital-Asset-Pricing-Modell |0 (DE-588)4121078-5 |D s |
689 | 0 | 1 | |a Kapitalanlage |0 (DE-588)4073213-7 |D s |
689 | 0 | 2 | |a Anlageverhalten |0 (DE-588)4214003-1 |D s |
689 | 0 | 3 | |a Risikoverhalten |0 (DE-588)4050133-4 |D s |
689 | 0 | |5 DE-604 | |
776 | 0 | 8 | |i Erscheint auch als |n Druck-Ausgabe, Hardcover |z 978-0-12-374356-5 |w (DE-604)BV023474461 |
776 | 0 | 8 | |i Erscheint auch als |n Druck-Ausgabe, Hardcover |z 0-12-374356-7 |w (DE-604)BV023474461 |
856 | 4 | 0 | |u http://www.sciencedirect.com/science/book/9780123743565 |x Verlag |3 Volltext |
912 | |a ZDB-33-ESD |a ZDB-33-FIN |a ebook |a ZDB-33-EBS |a ZDB-30-PQE | ||
940 | 1 | |q FAW_PDA_ESD | |
940 | 1 | |q FLA_PDA_ESD | |
999 | |a oai:aleph.bib-bvb.de:BVB01-024689996 | ||
966 | e | |u http://www.sciencedirect.com/science/book/9780123743565 |l BTU01 |p ZDB-33-ESD |q BTU_Kauf |x Verlag |3 Volltext | |
966 | e | |u https://ebookcentral.proquest.com/lib/th-ab/detail.action?docID=402687 |l FAB01 |p ZDB-30-PQE |x Aggregator |3 Volltext | |
966 | e | |u http://www.sciencedirect.com/science/book/9780123743565 |l FUBA1 |p ZDB-33-ESD |q ZDB-33-ESD 2012 |x Verlag |3 Volltext |
Datensatz im Suchindex
_version_ | 1804148764610396160 |
---|---|
any_adam_object | |
author | Shefrin, Hersh 1948- |
author_GND | (DE-588)122258665 |
author_facet | Shefrin, Hersh 1948- |
author_role | aut |
author_sort | Shefrin, Hersh 1948- |
author_variant | h s hs |
building | Verbundindex |
bvnumber | BV039829993 |
classification_rvk | QK 622 |
collection | ZDB-33-ESD ZDB-33-FIN ebook ZDB-33-EBS ZDB-30-PQE |
ctrlnum | (OCoLC)281598599 (DE-599)BVBBV039829993 |
dewey-full | 332.63/221 |
dewey-hundreds | 300 - Social sciences |
dewey-ones | 332 - Financial economics |
dewey-raw | 332.63/221 |
dewey-search | 332.63/221 |
dewey-sort | 3332.63 3221 |
dewey-tens | 330 - Economics |
discipline | Wirtschaftswissenschaften |
edition | 2. ed |
format | Electronic eBook |
fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>05866nmm a2200613zc 4500</leader><controlfield tag="001">BV039829993</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20210718 </controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">120124s2008 sz |||| o||u| ||||||eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9780080482248</subfield><subfield code="c">Online</subfield><subfield code="9">978-0-08-048224-8</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0080482244</subfield><subfield code="c">Online</subfield><subfield code="9">0-08-048224-4</subfield></datafield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1016/B978-0-12-374356-5.X5001-3</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)281598599</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV039829993</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">sz</subfield><subfield code="c">XA-CH</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-634</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-1043</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">332.63/221</subfield><subfield code="2">22</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QK 622</subfield><subfield code="0">(DE-625)141669:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Shefrin, Hersh</subfield><subfield code="d">1948-</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)122258665</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">A behavioral approach to asset pricing</subfield><subfield code="c">Hersh Shefrin</subfield></datafield><datafield tag="250" ind1=" " ind2=" "><subfield code="a">2. ed</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Amsterdam [u.a.]</subfield><subfield code="b">Acad. Press</subfield><subfield code="c">2008</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (XXVII, 604 S.)</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">Academic Press advanced finance series</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">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</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">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</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Includes bibliographical references (p. [563]-586) and index</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Capital assets pricing model</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Risk management</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Risikoverhalten</subfield><subfield code="0">(DE-588)4050133-4</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Kapitalanlage</subfield><subfield code="0">(DE-588)4073213-7</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Capital-Asset-Pricing-Modell</subfield><subfield code="0">(DE-588)4121078-5</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Anlageverhalten</subfield><subfield code="0">(DE-588)4214003-1</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Capital-Asset-Pricing-Modell</subfield><subfield code="0">(DE-588)4121078-5</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2="1"><subfield code="a">Kapitalanlage</subfield><subfield code="0">(DE-588)4073213-7</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2="2"><subfield code="a">Anlageverhalten</subfield><subfield code="0">(DE-588)4214003-1</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2="3"><subfield code="a">Risikoverhalten</subfield><subfield code="0">(DE-588)4050133-4</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Druck-Ausgabe, Hardcover</subfield><subfield code="z">978-0-12-374356-5</subfield><subfield code="w">(DE-604)BV023474461</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Druck-Ausgabe, Hardcover</subfield><subfield code="z">0-12-374356-7</subfield><subfield code="w">(DE-604)BV023474461</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">http://www.sciencedirect.com/science/book/9780123743565</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-33-ESD</subfield><subfield code="a">ZDB-33-FIN</subfield><subfield code="a">ebook</subfield><subfield code="a">ZDB-33-EBS</subfield><subfield code="a">ZDB-30-PQE</subfield></datafield><datafield tag="940" ind1="1" ind2=" "><subfield code="q">FAW_PDA_ESD</subfield></datafield><datafield tag="940" ind1="1" ind2=" "><subfield code="q">FLA_PDA_ESD</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-024689996</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://www.sciencedirect.com/science/book/9780123743565</subfield><subfield code="l">BTU01</subfield><subfield code="p">ZDB-33-ESD</subfield><subfield code="q">BTU_Kauf</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://ebookcentral.proquest.com/lib/th-ab/detail.action?docID=402687</subfield><subfield code="l">FAB01</subfield><subfield code="p">ZDB-30-PQE</subfield><subfield code="x">Aggregator</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://www.sciencedirect.com/science/book/9780123743565</subfield><subfield code="l">FUBA1</subfield><subfield code="p">ZDB-33-ESD</subfield><subfield code="q">ZDB-33-ESD 2012</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield></record></collection> |
id | DE-604.BV039829993 |
illustrated | Not Illustrated |
indexdate | 2024-07-10T00:12:19Z |
institution | BVB |
isbn | 9780080482248 0080482244 |
language | English |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-024689996 |
oclc_num | 281598599 |
open_access_boolean | |
owner | DE-634 DE-188 DE-1043 |
owner_facet | DE-634 DE-188 DE-1043 |
physical | 1 Online-Ressource (XXVII, 604 S.) graph. Darst. |
psigel | ZDB-33-ESD ZDB-33-FIN ebook ZDB-33-EBS ZDB-30-PQE FAW_PDA_ESD FLA_PDA_ESD ZDB-33-ESD BTU_Kauf ZDB-33-ESD ZDB-33-ESD 2012 |
publishDate | 2008 |
publishDateSearch | 2008 |
publishDateSort | 2008 |
publisher | Acad. Press |
record_format | marc |
series2 | Academic Press advanced finance series |
spelling | Shefrin, Hersh 1948- Verfasser (DE-588)122258665 aut A behavioral approach to asset pricing Hersh Shefrin 2. ed Amsterdam [u.a.] Acad. Press 2008 1 Online-Ressource (XXVII, 604 S.) graph. Darst. txt rdacontent c rdamedia cr rdacarrier Academic Press advanced finance series 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 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 Includes bibliographical references (p. [563]-586) and index Capital assets pricing model Risk management Risikoverhalten (DE-588)4050133-4 gnd rswk-swf Kapitalanlage (DE-588)4073213-7 gnd rswk-swf Capital-Asset-Pricing-Modell (DE-588)4121078-5 gnd rswk-swf Anlageverhalten (DE-588)4214003-1 gnd rswk-swf Capital-Asset-Pricing-Modell (DE-588)4121078-5 s Kapitalanlage (DE-588)4073213-7 s Anlageverhalten (DE-588)4214003-1 s Risikoverhalten (DE-588)4050133-4 s DE-604 Erscheint auch als Druck-Ausgabe, Hardcover 978-0-12-374356-5 (DE-604)BV023474461 Erscheint auch als Druck-Ausgabe, Hardcover 0-12-374356-7 (DE-604)BV023474461 http://www.sciencedirect.com/science/book/9780123743565 Verlag Volltext |
spellingShingle | Shefrin, Hersh 1948- A behavioral approach to asset pricing Capital assets pricing model Risk management Risikoverhalten (DE-588)4050133-4 gnd Kapitalanlage (DE-588)4073213-7 gnd Capital-Asset-Pricing-Modell (DE-588)4121078-5 gnd Anlageverhalten (DE-588)4214003-1 gnd |
subject_GND | (DE-588)4050133-4 (DE-588)4073213-7 (DE-588)4121078-5 (DE-588)4214003-1 |
title | A behavioral approach to asset pricing |
title_auth | A behavioral approach to asset pricing |
title_exact_search | A behavioral approach to asset pricing |
title_full | A behavioral approach to asset pricing Hersh Shefrin |
title_fullStr | A behavioral approach to asset pricing Hersh Shefrin |
title_full_unstemmed | A behavioral approach to asset pricing Hersh Shefrin |
title_short | A behavioral approach to asset pricing |
title_sort | a behavioral approach to asset pricing |
topic | Capital assets pricing model Risk management Risikoverhalten (DE-588)4050133-4 gnd Kapitalanlage (DE-588)4073213-7 gnd Capital-Asset-Pricing-Modell (DE-588)4121078-5 gnd Anlageverhalten (DE-588)4214003-1 gnd |
topic_facet | Capital assets pricing model Risk management Risikoverhalten Kapitalanlage Capital-Asset-Pricing-Modell Anlageverhalten |
url | http://www.sciencedirect.com/science/book/9780123743565 |
work_keys_str_mv | AT shefrinhersh abehavioralapproachtoassetpricing |