ec4024 lecture1819 behavioural fin
TRANSCRIPT
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EC4024 Lecture 17: Behavioural Finance 1Stephen Kinsella: www.stephenkinsella.net
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This Time
RECAP:
EMH/AMH
Expected Utility Theory
Behavioural Finance
Prospect Theory
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Recap
Efficient Markets HypothesisAdaptive Markets HypothesisExpected Utility Theory
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Prospect Theory
Kahneman & Tversky (1979)Theory is: people treat losses differently to gains.
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Derivation
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Application
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Next TimeAnomaliesRead Liebowitz & Thaler