000			04562nam a2200385 i 4500
005			20250728130508.0
008			080507s2008 ne a b 001 0 eng
010			_a2008020721
020			_a9780123743565 _q(hardcover)
020			_a0123743567 _q(hardcover)
035			_a(OCoLC)ocn227573863
035			_a(OCoLC)227573863
040			_aDLC _cDLC _dC#P _dBAKER _dBWX _dDLC _erda
041	0		_aeng
049			_aBAUN_MERKEZ
050	0	0	_aHG4637 _b.S54 2008
082	0	0	_222
100	1		_aShefrin, Hersh, _d1948- _eaut _9121488
245	1	2	_aA behavioral approach to asset pricing / _cHersh Shefrin.
250			_a2nd ed.
264		1	_aAmsterdam ; _aBoston : _bAcademic Press/Elsevier, _c[2008]
264		4	_c©2008
300			_axxvii, 604 pages : _billustrations ; _c24 cm.
336			_atext _btxt _2rdacontent
337			_aunmediated _bn _2rdamedia
338			_avolume _bnc _2rdacarrier
490	1		_aAcademic Press advanced finance series
504			_aIncludes bibliographical references (pages [563]-586) and index.
505	0	0	_tPreface _t-- Preface to the Second Edition _t-- Introduction _t-- I Heuristics and Representativeness: Experimental Evidence _t-- Representativeness and Bayes Rule: Psychological Perspective _t-- Representativeness and Bayes Rule: Economics Perspective _t-- A Simple Asset Pricing Model Featuring Representativeness _t-- Heterogeneous Judgements in Experiments _t-- II Heuristics and Representativeness: Investor Expectations _t-- Representativeness and Heterogeneous Beliefs Among Individual Investors, Financial Executives, and Academics _t-- Representativeness and Heterogeneity in the Judgements of Professional Investors _t-- III Developing Behavioral Asset Pricing Models _t-- A Simple Asset Pricing Model with Heterogeneous Beliefs _t-- Heterogeneous Beliefs and Inefficient Markets _t-- A Simple Market Model of Prices and Trading Volume _t-- Efficiency and Entropy: Long-run Dynamics _t-- IV Heterogeneity in Risk Tolerance and Time Discounting _t-- CRRA and CARA Utility Functions _t-- Heterogeneous Risk Tolerance and Time Preference _t-- Representative Investors in a Heterogeneous CRRA Model _t-- IV Sentiment and Behavioral SDF _t-- Sentiment _t-- Behavioral SDF and the Sentiment Premium _t-- VI Applications and Behavioral SDF _t-- Behavioral Betas and Mean-Variance Portfolios _t-- Cross-section of Return Expectations _t-- Testing for a Sentiment Premium _t-- A Behavioral Approach to the Term Structure of Interest Rates _t-- Behavioral Black-Scholes _t-- Irrational Exuberance and Option Smiles _t-- Empirical Evidence in Support of Behavioral SDF _t-- VII Prospect Theory _t-- Prospect Theory: Introduction _t-- Behavioral Portfolios _t-- Equilibrium with Behavioral Preferences _t-- Pricing and Prospect Theory: Empirical Studies _t-- Reflections on the Equity Premium Puzzle _t-- Continuous Time Behavioral Equilibrium Models _t-- Conclusion _t-- References.
520			_aBehavioral 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.
650		0	_aCapital assets pricing model. _925050
650		0	_aRisk management. _95253
830		0	_aAcademic Press advanced finance series _946869
942			_2lcc _cKT
999			_c94034 _d94034