Review of behavioral finance: effects on investor decisión making and market anomalies
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Title
Review of behavioral finance: effects on investor decisión making and market anomaliesAuthor (s)
Tutor/Supervisor; University.Department
Matallín Sáez, Juan Carlos; Universitat Jaume I. Departament de Finances i ComptabilitatDate
2020-06-16Publisher
Universitat Jaume IAbstract
The following work focuses on identifying the inefficiencies of markets and investors and how behavioural finance explains these behaviours.
Therefore, the first section describes the bases of the financial market ... [+]
The following work focuses on identifying the inefficiencies of markets and investors and how behavioural finance explains these behaviours.
Therefore, the first section describes the bases of the financial market hypothesis, as Fama and French (quoted in Prosad, Kapoor and Sengupta, 2015) argue, in these markets it is operated under the condition that the prices of the securities show all the available and relevant information.
The second chapter analyses behavioural finance, starting with Tversky and Kahneman's (1974) prospective theory, then the most important biases are classified depending on whether they are cognitive or emotional, and ends with another classification according to the risk tolerance level of each bias. [-]
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Description
Treball Final de Grau en Finances i Comptabilitat. Codi: FC1049. Curs acadèmic: 2019/2020
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