The DOI matches its Crossref record; 43 of the 43 references it cites were found in a registry or an index.
Investor Psychology and Asset Pricing
Abstract
The basic paradigm of asset pricing is in vibrant flux. The purely rational approach is being subsumed by a broader approach based upon the psychology of investors. In this approach, security expected returns are determined by both risk and misvaluation. This survey sketches a framework for understanding decision biases, evaluates the a priori arguments and the capital market evidence bearing on the importance of investor psychology for security prices, and reviews recent models.
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Citations
Cites
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Kahneman, D., & Tversky, A. (1979) · Econometrica · doi:10.2307/1914185 · Cited by 48,524
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Judgment under Uncertainty: Heuristics and Biases
Tversky, A., & Kahneman, D. (1975) · Utility, Probability, and Human Decision Making · doi:10.1007/978-94-010-1834-0_8 · Cited by 22,650
The Framing of Decisions and the Psychology of Choice
Tversky, A., & Kahneman, D. (1981) · Science · doi:10.1126/science.7455683 · Cited by 18,497
Advances in prospect theory: Cumulative representation of uncertainty
Tversky, A., & Kahneman, D. (1992) · Journal of Risk and Uncertainty · doi:10.1007/bf00122574 · Cited by 15,467
Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency
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Cited by
Driven to Distraction: Extraneous Events and Underreaction to Earnings News
HIRSHLEIFER, D., LIM, S. S., & TEOH, S. H. (2009) · The Journal of Finance · doi:10.1111/j.1540-6261.2009.01501.x · Cited by 1,542
Naive Diversification Strategies in Defined Contribution Saving Plans
Benartzi, S., & Thaler, R. H. (2001) · American Economic Review · doi:10.1257/aer.91.1.79 · Cited by 1,537
Abreu, D., & Brunnermeier, M. K. (2003) · Econometrica · doi:10.1111/1468-0262.00393 · Cited by 1,208
The Neural Basis of Financial Risk Taking
Kuhnen, C. M., & Knutson, B. (2005) · Neuron · doi:10.1016/j.neuron.2005.08.008 · Cited by 1,182
Forecasting the equity risk premium: the role of technical indicators
Neely, C. J., Rapach, D. E., Tu, J., & Zhou, G. (2014) · Management Science · doi:10.1287/mnsc.2013.1838 · Cited by 1,003
Metadata
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2001-08
- Volume
- 56
- Issue
- 4
- Pages
- 1533-1597
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3125780646
- Cited by
- 2,357
- References
- 43
- FWCI
- 102.49
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
