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Behavioral Approach to Asset Pricing

Behavioral Approach to Asset Pricing - 05 edition

ISBN13: 978-1592785155

Cover of Behavioral Approach to Asset Pricing 05 (ISBN 978-1592785155)
ISBN13: 978-1592785155
ISBN10: 1592785158
Edition: 05
Copyright: 2005
Publisher: Elsevier Science
Published: 2005
International: No

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Behavioral Approach to Asset Pricing - 05 edition

ISBN13: 978-1592785155

Hersh Shefrin

ISBN13: 978-1592785155
ISBN10: 1592785158
Edition: 05
Copyright: 2005
Publisher: Elsevier Science
Published: 2005
International: No
USED
Sold Out
NEW
Sold Out
Summary

A Behavioral Approach to Asset Pricing Theory examines the reigning assumptions of asset pricing theory and reconstructs them to incorporate findings from behavioral finance. It 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, this book takes the discussion to the next step. The author 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. The book develops a series of examples to illustrate the theoretical results. The CD-ROM contains most of the examples, worked out as Excel spreadsheets, so that a diligent reader can follow them through. Instructors might also want to use the examples to assign class exercises, asking students to modify the numbers and see what happens.