Our latest contenthttp://www.moneyscience.com/Mon, 14 Dec 2009 15:41:23 +0000The Behavioural Finance Working Group was established in January 2008 and is led by Professor Gulnur Muradoglu at Cass Business School. http://www.moneyscience.com/linkdirectory.php?cat=29#ind929http://www.moneyscience.com/linkdirectory.php?cat=29#ind929Wed, 15 Jul 2009 11:05:30 +0100This is the slides from a presentation at the 25th Annual Meeting of the Society for the Advancement of Behavioral Economics Conference hosted by New York University on May 15-18, 2007. http://www.moneyscience.com/linkdirectory.php?cat=29#ind863http://www.moneyscience.com/linkdirectory.php?cat=29#ind863Fri, 10 Apr 2009 16:36:33 +0100Nicholas Barbaris and Richard Thaler's review chapter in the Handbook of Finance. http://www.moneyscience.com/linkdirectory.php?cat=29#ind821http://www.moneyscience.com/linkdirectory.php?cat=29#ind821Mon, 15 Dec 2008 09:11:15 +0000This paper by Victor Ricciardi and Helen K. Simon serves as introductory reading for an undergraduate class in finance and economics. http://www.moneyscience.com/linkdirectory.php?cat=29#ind776http://www.moneyscience.com/linkdirectory.php?cat=29#ind776Wed, 10 Sep 2008 12:27:15 +0100AEdge Master Class 08 - presented by Richard Thaler, Sendhil Mullainathan and Daniel Kahneman. http://www.moneyscience.com/linkdirectory.php?cat=29#ind711http://www.moneyscience.com/linkdirectory.php?cat=29#ind711Mon, 18 Aug 2008 09:52:19 +0100By Eugene F. Fama writes: Market efficiency survives the challenge from the literature on long-term return anomalies. http://www.moneyscience.com/linkdirectory.php?cat=29#ind689http://www.moneyscience.com/linkdirectory.php?cat=29#ind689Fri, 27 Jun 2008 10:49:59 +0100A Presentation given by Andreas Calianos (Behavioral Capital LLC) at the March 25th 2008 meeting of QWAFAFEW - New York City. http://www.moneyscience.com/linkdirectory.php?cat=29#ind650http://www.moneyscience.com/linkdirectory.php?cat=29#ind650Thu, 12 Jun 2008 10:35:14 +0100A presentation by Christopher H. Browne to Columbia Business School. http://www.moneyscience.com/linkdirectory.php?cat=29#ind635http://www.moneyscience.com/linkdirectory.php?cat=29#ind635Tue, 15 Apr 2008 11:17:03 +0100Compiled by behaviouralfinance.net, this extensive collection of published research papers details the history of finance from 1955 to 1985 and includes direct links to the PDFs. http://www.moneyscience.com/linkdirectory.php?cat=29#ind602http://www.moneyscience.com/linkdirectory.php?cat=29#ind602Thu, 13 Mar 2008 09:06:38 +0000This course surveys research which incorporates psychological evidence into economics. Topics include: prospect theory, biases in probabilistic judgment, self-control and mental accounting with implications for consumption and savings, fairness, altruism, and public goods contributions, financial market anomalies and theories, impact of markets, learning, and incentives, and memory, attention, categorization, and the thinking process. http://www.moneyscience.com/linkdirectory.php?cat=29#ind584http://www.moneyscience.com/linkdirectory.php?cat=29#ind584Wed, 14 Nov 2007 10:46:12 +0000In this paper Richard Peterson demonstrates a relationship between investor psychology and security pricing around anticipated events. Taking a multidisciplinary approach, he pulls together research in the finance, psychology, and neuroscience literature. http://www.moneyscience.com/linkdirectory.php?cat=29#ind490http://www.moneyscience.com/linkdirectory.php?cat=29#ind490Wed, 14 Nov 2007 10:41:56 +0000An exchange of information on the advances of behavioral finance, market psychology and nonlinear market approaches. Founded in 2000 by Peter Greenfinch. http://www.moneyscience.com/linkdirectory.php?cat=29#ind489http://www.moneyscience.com/linkdirectory.php?cat=29#ind489Wed, 07 Nov 2007 08:44:22 +0000By John Y. Campbell, Ph.D., Managing Partner, Arrowstreet Capital, L.P., Otto Eckstein Professor of Applied Economics, Harvard University. http://www.moneyscience.com/linkdirectory.php?cat=29#ind487http://www.moneyscience.com/linkdirectory.php?cat=29#ind487Tue, 02 Oct 2007 08:20:04 +0100This virtual journal hopes to foster better decision-making and bridge the gap with other disciplines by investigating how various cognitive processes and emotional factors may hinder or contribute to optimal decision making in finance and related fields with an interdisciplinary perspective including: financial psychology, behavioral accounting, economic psychology, psychological economics, behavioral economics, behavioral law, organizational behavior, and behavioral marketing. http://www.moneyscience.com/linkdirectory.php?cat=29#ind439http://www.moneyscience.com/linkdirectory.php?cat=29#ind439Tue, 02 Oct 2007 07:42:57 +0100By Allan Timmermann and Clive W.J. Granger. http://www.moneyscience.com/linkdirectory.php?cat=29#ind436http://www.moneyscience.com/linkdirectory.php?cat=29#ind436Tue, 02 Oct 2007 07:38:40 +0100By Burton G. Malkiel. http://www.moneyscience.com/linkdirectory.php?cat=29#ind435http://www.moneyscience.com/linkdirectory.php?cat=29#ind435Tue, 02 Oct 2007 07:34:38 +0100By Philip S. Russel and Violet M. Torbey. http://www.moneyscience.com/linkdirectory.php?cat=29#ind434http://www.moneyscience.com/linkdirectory.php?cat=29#ind434Wed, 19 Sep 2007 12:34:49 +0100The application of psychology to finance. The home of investment skeptic James Montier who has worked in the investment industry for the last 15 years and specializes in the application of psychology to finance. He is the author of two books (Behavioural Finance) and the forthcoming Behavioural Investing. http://www.moneyscience.com/linkdirectory.php?cat=29#ind416http://www.moneyscience.com/linkdirectory.php?cat=29#ind416Fri, 14 Sep 2007 10:42:39 +0100By Keith Cuthbertson, Dirk Nitzsche and Hyde Stuart. http://www.moneyscience.com/linkdirectory.php?cat=29#ind405http://www.moneyscience.com/linkdirectory.php?cat=29#ind405Mon, 13 Aug 2007 13:09:51 +0100By Andrew W. Lo, Dmitry V. Repin and Brett N. Steenbarger. http://www.moneyscience.com/linkdirectory.php?cat=29#ind187http://www.moneyscience.com/linkdirectory.php?cat=29#ind187Mon, 13 Aug 2007 13:08:13 +0100By Andrew W. Lo http://www.moneyscience.com/linkdirectory.php?cat=29#ind186http://www.moneyscience.com/linkdirectory.php?cat=29#ind186Mon, 13 Aug 2007 13:03:24 +0100By Richard Thaler. To understand what behavioral finance is and why it was originally thought to be a fleeting heresy, one must first understand the standard approach to financial economics and why those who used this approach believed, on theoretical grounds, that cognitive biases could not affect asset prices. http://www.moneyscience.com/linkdirectory.php?cat=29#ind185http://www.moneyscience.com/linkdirectory.php?cat=29#ind185Mon, 13 Aug 2007 13:01:50 +0100From THE NEW PALGRAVE: A DICTIONARY OF ECONOMICS, L. Blume, S. Durlauf, eds., 2nd Edition, Palgrave Macmillan Ltd., 2007. The efficient markets hypothesis (EMH) maintains that market prices fully reflect all available information. Developed independently by Paul A. Samuelson and Eugene F. Fama in the 1960s, this idea has been applied extensively to theoretical models and empirical studies of financial securities prices, generating considerable controversy as well as fundamental insights into the price-discovery process. The most enduring critique comes from psychologists and behavioural economists who argue that the EMH is based on counterfactual assumptions regarding human behaviour, that is, rationality. Recent advances in evolutionary psychology and the cognitive neurosciences may be able to reconcile the EMH with behavioural anomalies. http://www.moneyscience.com/linkdirectory.php?cat=29#ind184http://www.moneyscience.com/linkdirectory.php?cat=29#ind184Mon, 13 Aug 2007 12:55:18 +0100By James Montier. How can behavioural finance inform the investment process? We have taken a hypothetical ‘typical' large fund management house and analysed their process. This collection of notes tries to explore some of the areas in which understanding psychology could radically alter the way they structure their businesses. The results may challenge some of your most deeply held beliefs. http://www.moneyscience.com/linkdirectory.php?cat=29#ind183http://www.moneyscience.com/linkdirectory.php?cat=29#ind183Mon, 13 Aug 2007 12:47:39 +0100By Panagiotis Andrikopoulos. Abstract: Modern Finance has dominated the area of financial economics for at least four decades. Based on a set of strong but highly unrealistic assumptions its advocates have produced a range of very influential theories and models. Nonetheless, in the last two decades a new academic school of thought has emerged that refutes the key assumption of a homo economicus; an assumption that represents the cornerstone for the development of the theory of efficient markets. The first empirical evidence against efficient markets in the mid-eighties signalled the beginning of a fierce debate between these two schools of thought. This paper gives an overview of the key arguments of these two distinctive academic doctrines. http://www.moneyscience.com/linkdirectory.php?cat=29#ind181http://www.moneyscience.com/linkdirectory.php?cat=29#ind181Fri, 10 Aug 2007 11:55:03 +0100How can behavioural finance inform the investment process? We have taken a hypothetical 'typical' large fund management house and analysed their process. This collection of notes tries to explore some of the areas in which understanding psychology could radically alter the way they structure their businesses. The results may challenge some of your most deeply held beliefs. http://www.moneyscience.com/linkdirectory.php?cat=29#ind81http://www.moneyscience.com/linkdirectory.php?cat=29#ind81Fri, 10 Aug 2007 11:05:21 +0100By Robert Shiller. Abstract: The efficient markets theory reached the height of its dominance in academic circles around the 1970s. Faith in this theory was eroded by a succession of discoveries of anomalies, many in the 1980s, and of evidence of excess volatility of returns. Finance literature in this decade and after suggests a more nuanced view of the value of the efficient markets theory, and, starting in the 1990s, a blossoming of research on behavioral finance. Some important developments in the 1990s and recently include feedback theories, models of the interaction of smart money with ordinary investors, and evidence on obstacles to smart money. http://www.moneyscience.com/linkdirectory.php?cat=29#ind69http://www.moneyscience.com/linkdirectory.php?cat=29#ind69Fri, 10 Aug 2007 09:57:23 +0100By Nassim Nicholas Taleb, published originally in the Journal of behavioural Finance. http://www.moneyscience.com/linkdirectory.php?cat=29#ind50http://www.moneyscience.com/linkdirectory.php?cat=29#ind50