Thaler Advances in Behavioral Finance, Volume II

Course Book
ISBN: 978-1-4008-2912-5
Verlag: De Gruyter
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, Band 2, 744 Seiten

Reihe: The Roundtable Series in Behavioral Economics

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Autoren/Hrsg.

Thaler, Richard H.

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Wirtschaftstheorie, Wirtschaftsphilosophie

Inhaltsverzeichnis

Preface xi
Richard H. Thaler
Acknowledgments xix
List of Abbreviations xxiii
Chapter 1: A Survey of Behavioral Finance by Nicholas Barberis and Richard H. Thaler 1

Part I: Limits to Arbitrage

Chapter 2: The Limits of Arbitrage by Andrei Shleifer and Robert W. Vishny 79
Chapter 3: How Are Stock Prices Affected by the Location of Trade? by Kenneth A. Froot and Emil M. Dabora 102
Chapter 4: Can the Market Add and Subtract? Mispricing in Tech Stock Carve-outs by Owen A. Lamont and Richard H. Thaler 130

Part II: I Stock Returns and the Equity Premium

Chapter 5: Valuation Ratios and the Long-run Stock Market Outlook: An Update by John Y. Campbell and Robert J. Shiller 173
Chapter 6: Myopic Loss Aversion and the Equity Premium Puzzle by Shlomo Benartzi and Richard H. Thaler 202
Chapter 7: Prospect Theory and Asset Prices by Nicholas Barberis, Ming Huang, and Tano Santos 224

Part III: Empirical Studies of Overreaction and Underreaction

Chapter 8: Contrarian Investment, Extrapolation, and Risk by Josef Lakonishok, Andrei Shleifer, and Robert W. Vishny 273
Chapter 9: Evidence on the Characteristics of Cross-sectional Variation in Stock Returns by Kent Daniel and Sheridan Titman 317
Chapter 10: Momentum by Narasimhan Jegadeesh and Sheridan Titman 353
Chapter 11: Market Efficiency and Biases in Brokerage Recommendations by Roni Michaely and Kent L. Womack 389

Part IV: Theories of Overreaction and Underreaction

Chapter 12: A Model of Investor Sentiment by Nicholas Barberis, Andrei Shleifer, and Robert W. Vishny 423
Chapter 13: Investor Psychology and Security Market Under- and Overreaction by Kent Daniel, David Hirshleifer, and Avanidhar Subrahmanyam 460
Chapter 14: A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets by Harrison Hong and Jeremy C. Stein 502

Part V: Investor Behavior

Chapter 15: Individual Investors by Brad M. Barber and Terrance Odean 543
Chapter 16: Naive Diversification Strategies in Defined Contribution Savings Plans by Shlomo Benartzi and Richard H. Thaler 570

Part VI: Corporate Finance

Chapter 17: Rational Capital Budgeting in an Irrational World by Jeremy C. Stein 605
Chapter 18: Earnings Management to Exceed Thresholds by François Degeorge, Jayendu Patel, and Richard Zeckhauser 633
Chapter 19: Managerial Optimism and Corporate Finance by J. B. Heaton 667

List of Contributors 685
Index 695

Über Autor(innen)

Richard H. Thaler, the winner of the 2017 Nobel Prize in economics, is the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. His books include Quasi-Rational Economics (Russell Sage Foundation) and The Winner's Curse (Princeton). He is also the editor of the forerunner to the present volume, Advances in Behavioral Finance (Russell Sage Foundation).