Artículos relacionados a A Behavioral Approach to Asset Pricing (Academic Press...
Sinopsis
Behavioral finance is the study of how psychology affects financial decision making and financial markets. It is increasingly becoming the common way of understanding investor behavior and stock market activity. Incorporating the latest research and theory, Shefrin offers both a strong theory and efficient empirical tools that address derivatives, fixed income securities, mean-variance efficient portfolios, and the market portfolio. The book provides a series of examples to illustrate the theory.
"Sinopsis" puede pertenecer a otra edición de este libro.
Acerca del autor
Hersh Shefrin holds the Mario L. Belotti Chair in the Department of Finance at Santa Clara University's Leavey School of Business. He is a pioneer of behavioral finance, and has worked on behavioral issues for over thirty years. A Behavioral Approach to Asset Pricing is the first behavioral treatment of the pricing kernel. His book Behavioral Corporate Finance is the first textbook dedicated to the application of behavioral concepts to corporate finance. His book Beyond Greed and Fear was the first comprehensive treatment of the field of behavioral finance. A 2003 article appearing in The American Economic Review included him among the top fifteen theorists to have influenced empirical work in microeonomics. One of his articles is among the all time top ten papers to be downloaded from SSRN. He holds a Ph.D. from the London School of Economics, and an honorary doctorate from the University of Oulu in Finland.
De la contraportada
A mathematical-economist-turned-behavioral-economist, Hersh Shefrin challenges and delights the reader by applying concepts of behavioral economics with emphasis on investor heterogeneity to revisit a broad spectrum of topics in finance including portfolio management, trading, and the pricing of equities, bonds and options.?
George M. Constantinides, Leo Melamed Professor of Finance, The University of Chicago Graduate School of Business
The flood of empirical asset pricing research in recent years has often required financial economists to choose between two unpalatable options: either embrace the rich range of evidence with a somewhat atheoretical view; or, simply ignore that large portion of the evidence that conflicts with classical asset pricing theory. The behavioral finance pioneer Hersh Shefrin, in this new edition of his treatise, shows that one need not choose between theory and data. He shows that a number of seemingly "behavioral" patterns in the data can in fact be derived from a suitably modified version of the stochastic discount factor framework. Impressive in both scope and attention to detail, this book will be valuable for researchers, teachers, students, and investment professionals.?
Jeffrey Wurgler, Research Professor of Finance, NYU Stern School of Business
Judging from the large volume of trade in the financial markets and the astounding volatility of prices, one has to accept the idea that investors hold divergent and fast fluctuating beliefs. For this to make sense, I see only two possible hypotheses. Both individual and professional investors receive a lot of information some of it public but a lot more of it private on which they act. Or they all receive similar information but each one interprets that information somewhat differently from the other. Although it is not quite rational, I find the latter behaviour more plausible than the former. A large part of the second edition of A Behavioral Approach to Asset Pricing is devoted to developing this arresting, although by no means mainstream, hypothesis. In that endeavour, Professor Shefrin is a maverick and a pioneer.?
Bernard Dumas, Professor of Finance, Swiss Finance Institute, Université de Lausanne, Switzerland
Praise for the First Edition:
This book provides a much-needed bridge between behavioral finance and traditional asset pricing theory, so that the insights that the two fields offer can complement each other. This book will make the theory of behavioral finance far more useful and broadly applicable.?
Robert Shiller, Cowles Foundation for Research in Economics, International Center for Finance, Yale University
Incorporating the latest theory and empirical research, the second edition of A Behavioral Approach to Asset Pricing provides the most up-to-date and comprehensive discussion of how psychology affects market activity. The key message remains: that the future of asset pricing theory lies in bringing together the powerful SDF-based tools adopted by neoclassical asset pricing theorists and the more realistic assumptions adopted by behavioral asset pricing theorists. The most important equation in the first edition is the decomposition of the log-SDF into sentiment and a fundamental component. In the second edition, Shefrin extends the analysis to demonstrate how this equation can be generalized to encompass the combination of behavioral preferences and behavioral beliefs. This generalization provides a unified approach that ties together the main ideas in the book.
The book is supported by a companion website, which contains examples worked out as Excel spreadsheets so that readers can input their own data to test the results.
Hersh Shefrin is Mario L. Belotti Professor of Finance, Leavey School of Business, Santa Clara University, CA, USA|A mathematical-economist-turned-behavioral-economist, Hersh Shefrin challenges and delights the reader by applying concepts of behavioral economics with emphasis on investor heterogeneity to revisit a broad spectrum of topics in finance including portfolio management, trading, and the pricing of equities, bonds and options.
George M. Constantinides, Leo Melamed Professor of Finance, The University of Chicago Graduate School of Business
The flood of empirical asset pricing research in recent years has often required financial economists to choose between two unpalatable options: either embrace the rich range of evidence with a somewhat atheoretical view; or, simply ignore that large portion of the evidence that conflicts with classical asset pricing theory. The behavioral finance pioneer Hersh Shefrin, in this new edition of his treatise, shows that one need not choose between theory and data. He shows that a number of seemingly "behavioral" patterns in the data can in fact be derived from a suitably modified version of the stochastic discount factor framework. Impressive in both scope and attention to detail, this book will be valuable for researchers, teachers, students, and investment professionals.
Jeffrey Wurgler, Research Professor of Finance, NYU Stern School of Business
Judging from the large volume of trade in the financial markets and the astounding volatility of prices, one has to accept the idea that investors hold divergent and fast fluctuating beliefs. For this to make sense, I see only two possible hypotheses. Both individual and professional investors receive a lot of information some of it public but a lot more of it private on which they act. Or they all receive similar information but each one interprets that information somewhat differently from the other. Although it is not quite rational, I find the latter behaviour more plausible than the former. A large part of the second edition of A Behavioral Approach to Asset Pricing is devoted to developing this arresting, although by no means mainstream, hypothesis. In that endeavour, Professor Shefrin is a maverick and a pioneer.
Bernard Dumas, Professor of Finance, Swiss Finance Institute, Université de Lausanne, Switzerland
Praise for the First Edition:
This book provides a much-needed bridge between behavioral finance and traditional asset pricing theory, so that the insights that the two fields offer can complement each other. This book will make the theory of behavioral finance far more useful and broadly applicable.
Robert Shiller, Cowles Foundation for Research in Economics, International Center for Finance, Yale University
Incorporating the latest theory and empirical research, the second edition of A Behavioral Approach to Asset Pricing provides the most up-to-date and comprehensive discussion of how psychology affects market activity. The key message remains: that the future of asset pricing theory lies in bringing together the powerful SDF-based tools adopted by neoclassical asset pricing theorists and the more realistic assumptions adopted by behavioral asset pricing theorists. The most important equation in the first edition is the decomposition of the log-SDF into sentiment and a fundamental component. In the second edition, Shefrin extends the analysis to demonstrate how this equation can be generalized to encompass the combination of behavioral preferences and behavioral beliefs. This generalization provides a unified approach that ties together the main ideas in the book.
The book is supported by a companion website, which contains examples worked out as Excel spreadsheets so that readers can input their own data to test the results.
Hersh Shefrin is Mario L. Belotti Professor of Finance, Leavey School of Business, Santa Clara University, CA, USA
"Sobre este título" puede pertenecer a otra edición de este libro.
- EditorialAcademic Press Inc
- Año de publicación2008
- ISBN 10 0123743567
- ISBN 13 9780123743565
- EncuadernaciónTapa dura
- IdiomaInglés
- Número de páginas618
- Contacto del fabricanteno disponible
Comprar nuevo
Ver este artículo
EUR 83,35
EUR 17,60 gastos de envío desde Reino Unido a España
Destinos, gastos y plazos de envíoResultados de la búsqueda para A Behavioral Approach to Asset Pricing (Academic Press...
Imagen de archivo
A Behavioral Approach to Asset Pricing
Librería: Anybook.com, Lincoln, Reino Unido
Calificación del vendedor: 5 de 5 estrellas
Condición: Good. This is an ex-library book and may have the usual library/used-book markings inside.This book has hardback covers. Clean from markings In good all round condition. No dust jacket. Please note the Image in this listing is a stock photo and may not match the covers of the actual item,1050grams, ISBN:9780123743565. Nº de ref. del artículo: 9141854
Cantidad disponible: 1 disponibles
Imagen de archivo
A Behavioral Approach to Asset Pricing
Publicado por
Elsevier Science & Technology, 2008
ISBN 10: 0123743567
ISBN 13: 9780123743565
Antiguo o usado
Tapa dura
Librería: Better World Books Ltd, Dunfermline, Reino Unido
Calificación del vendedor: 5 de 5 estrellas
Condición: Very Good. Ships from the UK. Former library book; may include library markings. Used book that is in excellent condition. May show signs of wear or have minor defects. Nº de ref. del artículo: 52022332-20
Cantidad disponible: 1 disponibles
Imagen de archivo
Behavioral Approach to Asset Pricing
Publicado por
Academic Press 2008-07-01, 2008
ISBN 10: 0123743567
ISBN 13: 9780123743565
Nuevo
Paperback
Librería: Chiron Media, Wallingford, Reino Unido
Calificación del vendedor: 5 de 5 estrellas
Paperback. Condición: New. Nº de ref. del artículo: 6666-ELS-9780123743565
Cantidad disponible: Más de 20 disponibles
Imagen de archivo
A Behavioral Approach to Asset Pricing
Librería: Majestic Books, Hounslow, Reino Unido
Calificación del vendedor: 5 de 5 estrellas
Condición: New. pp. xxvii + 604 Illus. Nº de ref. del artículo: 8277597
Cantidad disponible: 3 disponibles
Imagen de archivo
A Behavioral Approach to Asset Pricing
Librería: Revaluation Books, Exeter, Reino Unido
Calificación del vendedor: 5 de 5 estrellas
Hardcover. Condición: Brand New. 2nd edition. 604 pages. 9.25x6.50x1.50 inches. In Stock. Nº de ref. del artículo: __0123743567
Cantidad disponible: 2 disponibles
Imagen del vendedor
A Behavioral Approach to Asset Pricing
Publicado por
Elsevier Science Mai 2008, 2008
ISBN 10: 0123743567
ISBN 13: 9780123743565
Nuevo
Tapa dura
Librería: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Alemania
Calificación del vendedor: 5 de 5 estrellas
Buch. Condición: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Behavioral finance is the study of how psychology affects financial decision making and financial markets. It is increasingly becoming the common way of understanding investor behavior and stock market activity. Incorporating the latest research and theory, Shefrin offers both a strong theory and efficient empirical tools that address derivatives, fixed income securities, mean-variance efficient portfolios, and the market portfolio. The book provides a series of examples to illustrate the theory. 618 pp. Englisch. Nº de ref. del artículo: 9780123743565
Cantidad disponible: 2 disponibles
Imagen de archivo
A Behavioral Approach to Asset Pricing
Publicado por
Elsevier Science Publishing Co Inc, 2008
ISBN 10: 0123743567
ISBN 13: 9780123743565
Nuevo
Tapa dura
Librería: THE SAINT BOOKSTORE, Southport, Reino Unido
Calificación del vendedor: 5 de 5 estrellas
Hardback. Condición: New. New copy - Usually dispatched within 4 working days. 1004. Nº de ref. del artículo: B9780123743565
Cantidad disponible: Más de 20 disponibles
Imagen del vendedor
A Behavioral Approach to Asset Pricing
Impresión bajo demandaLibrería: AHA-BUCH GmbH, Einbeck, Alemania
Calificación del vendedor: 5 de 5 estrellas
Buch. Condición: Neu. nach der Bestellung gedruckt Neuware - Printed after ordering - Behavioral finance is the study of how psychology affects financial decision making and financial markets. It is increasingly becoming the common way of understanding investor behavior and stock market activity. Incorporating the latest research and theory, Shefrin offers both a strong theory and efficient empirical tools that address derivatives, fixed income securities, mean-variance efficient portfolios, and the market portfolio. The book provides a series of examples to illustrate the theory. Nº de ref. del artículo: 9780123743565
Cantidad disponible: 2 disponibles
Imagen de archivo
A Behavioral Approach to Asset Pricing
Impresión bajo demandaLibrería: Brook Bookstore On Demand, Napoli, NA, Italia
Calificación del vendedor: 5 de 5 estrellas
Condición: new. Questo è un articolo print on demand. Nº de ref. del artículo: 27cf0851d68d95b6de147a55a59b1857
Cantidad disponible: Más de 20 disponibles
Imagen de archivo
A Behavioral Approach to Asset Pricing
Librería: Books Puddle, New York, NY, Estados Unidos de America
Calificación del vendedor: 4 de 5 estrellas
Condición: New. pp. xxvii + 604 2nd Edition. Nº de ref. del artículo: 26651650
Cantidad disponible: 3 disponibles