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Anchoring Heuristic And Currency Options
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Book Synopsis Anchoring Heuristic and Currency Options by : Hammad Siddiqi
Download or read book Anchoring Heuristic and Currency Options written by Hammad Siddiqi and published by . This book was released on 2016 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on experimental evidence, I adjust the standard currency option pricing models for the anchoring heuristic of Tversky and Kahneman (1974). Anchoring provides an explanation for the market practice of using risk-reversals as sentiment proxy. While generating currency smiles even with geometric Brownian motion, anchoring adds power to stochastic volatility and jump diffusion approaches. In particular, anchoring mitigates the difficulty that stochastic volatility models face in generating a steep short-term skew. Anchoring predicts that the slope of the smile is positively related to underlying currency sentiment, whereas curvature is positively related to dispersion in the sentiment. Empirical evidence supports these predictions.
Book Synopsis Analogy Based Valuation of Currency Options by : Hammad Siddiqi
Download or read book Analogy Based Valuation of Currency Options written by Hammad Siddiqi and published by . This book was released on 2016 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens when the anchoring and adjustment heuristic of Tversky and Kahneman (1974) is incorporated in currency option models? Surprisingly, it generates the peculiar features of currency smiles within the Black-Scholes framework, while adding power to stochastic volatility and jump diffusion models. Anchoring versions converge to corresponding Black-Scholes, stochastic volatility, and jump diffusion models if adjustments to underlying currency risks to get to option risks are correct or if uncovered interest-rate parity holds. Anchoring predicts that the slope of the smile is positively related to recent spot trend, whereas curvature is positively related to diversity of sentiment. Empirical evidence supports these predictions.
Book Synopsis The Secret Strategies of Marketing by : Shah Mohammed
Download or read book The Secret Strategies of Marketing written by Shah Mohammed and published by D-Cube Designs. This book was released on 2023-09-22 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unveiling the Psychology Behind Brand Success: Exploring Cognitive Biases in Marketing. Are you ready to discover the hidden keys to crafting irresistible marketing campaigns and decoding consumer decisions? Dive into the world of cognitive biases and their profound impact on branding and advertising with “The Secret Strategies of Marketing: How Brands Harness Cognitive Biases to Capture Hearts and Wallets.” Why This Book Matters: In a world bombarded by marketing messages, understanding the psychology that underpins consumer behaviour is the ultimate game-changer. Whether you’re a marketer, entrepreneur, business owner, or an inquisitive consumer, this book unravels the mysteries behind why certain brands resonate deeply while others remain forgettable. Your Guide to Cognitive Biases: This comprehensive guide explores a treasure trove of cognitive biases, from the well-known to the lesser-explored, offering profound insights into their applications and impact. From the allure of familiarity to the power of scarcity, you’ll journey through a spectrum of biases that influence every purchase decision. What’s in Store: Get ready to dive into the fascinating world of cognitive biases and marketing. Explore a rich array of biases, including but not limited to: The Zeigarnik Effect: How unfinished experiences captivate attention. The Decoy Effect: How an irrelevant option can shape choices. Confirmation Bias: Why consumers seek information that confirms their beliefs. Reciprocity Bias: How giving creates lasting brand loyalty. And many more that shape consumer perceptions, choices, and loyalties. Empower Your Marketing Strategy: Armed with these insights, you’ll wield the power to: Craft campaigns that resonate on a deeper emotional level. Build brand loyalty that stands the test of time. Develop messaging that captivates and converts. Navigate the fine line between persuasion and manipulation. Innovate marketing strategies that speak to the heart of consumer desires. Unlock Brand Success: It’s time to unlock the hidden doors to brand success. With “The Secret Strategies of Marketing,” you’ll emerge equipped with the knowledge and techniques to revolutionize your marketing approach, resonate deeply with your audience, and forge lasting connections that transcend traditional campaigns. Empower Yourself Against Manipulation: But it's not just about the brands -this book empowers you. Whether you're a business owner, marketer, or discerning consumer, understanding cognitive biases is your armour against manipulation. Develop a sharper eye to discern effective marketing from mere manipulation. Order Your Copy Today: Prepare to embark on a journey that redefines your understanding of marketing's potential. This book is more than just pages -It's your guide to unlocking the secrets behind consumer minds, paving the way for brand success like never before.
Book Synopsis The Paradox of Points by : Sören Köcher
Download or read book The Paradox of Points written by Sören Köcher and published by Springer. This book was released on 2015-04-14 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his research, Sören Köcher provides valuable insights on the paradoxical effects of the magnitude of a loyalty program medium—i.e. the sheer number of points, miles, or stamps credited for every purchase and required for reward redemption—on the central consumer decisions in loyalty program memberships. In sum, the results of twelve empirical studies reveal that high magnitude currencies improve the attractiveness of medium collection but entail reluctant medium spending behavior. These findings provide important implications for a more efficient usage of loyalty programs in business practices. In addition, this dissertation discovers a violation of one of the most fundamental assumptions of rational choice theory and thus contributes to a better understanding of when and why people deviate from rational decision-making.
Book Synopsis Blackwell Handbook of Judgment and Decision Making by : Derek J. Koehler
Download or read book Blackwell Handbook of Judgment and Decision Making written by Derek J. Koehler and published by John Wiley & Sons. This book was released on 2008-04-15 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Blackwell Handbook of Judgment and Decision Making is a state-of-the art overview of current topics and research in the study of how people make evaluations, draw inferences, and make decisions under conditions of uncertainty and conflict. Contains contributions by experts from various disciplines that reflect current trends and controversies on judgment and decision making. Provides a glimpse at the many approaches that have been taken in the study of judgment and decision making and portrays the major findings in the field. Presents examinations of the broader roles of social, emotional, and cultural influences on decision making. Explores applications of judgment and decision making research to important problems in a variety of professional contexts, including finance, accounting, medicine, public policy, and the law.
Book Synopsis Dollars and Sense by : Dr. Dan Ariely
Download or read book Dollars and Sense written by Dr. Dan Ariely and published by HarperCollins. This book was released on 2017-11-07 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: New York Times bestselling author, Dan Ariely, teams up with financial comedian and writer Jeff Kreisler, to delve into the truly irrational world of personal finance, blending humor and behavioral economics to help people understand the psychology behind their financial decisions and show them how they can make better ones. He entertains critical questions such as these: Why is paying for things painful? Why are we comfortable overpaying for something in the present just because we’ve overpaid for it in the past? Why is it easy to pay $4 for a soda on vacation, when we wouldn’t spend more than $1 on that same soda at our local grocery store? We think of money as numbers, values, and amounts, but when it comes down to it, when we actually use our money, we engage our hearts more than our heads. Emotions play a powerful role in shaping our financial behavior, often making us our own worst enemies as we try to save, access value, and spend responsibly. In Dollars and Sense, bestselling author and behavioral economist Dan Ariely teams up with financial comedian and writer Jeff Kreisler to challenge many of our most basic assumptions about the precarious relationship between our brains and our money. In doing so, they undermine many of personal finance’s most sacred beliefs and explain how we can override some of our own instincts to make better financial choices. Exploring a wide range of everyday topics—from the lure of pain-free spending with credit cards to the pitfalls of household budgeting to the seduction of holiday sales—Ariely and Kreisler demonstrate how our misplaced confidence in our spending habits frequently leads us astray, costing us more than we realize, whether it’s the real value of the time we spend driving forty-five minutes to save $10 or our inability to properly assess what the things we buy are actually worth. The result not only reveals the rationale behind our most head-scratching financial choices but also offers clear guidance for navigating the treacherous financial landscape of the brain. Fascinating, engaging, funny, and essential, Dollars and Sense provides the practical tools we need to understand and improve our financial choices, save and spend smarter, and ultimately live better.
Book Synopsis International Investment Management by : Kara Tan Bhala
Download or read book International Investment Management written by Kara Tan Bhala and published by Routledge. This book was released on 2016-04-14 with total page 589 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Investment Management: Theory, Practice, and Ethics synthesizes investment principles, Asian financial practice, and ethics reflecting the realities of modern international finance. These topics are studied within the Asian context, first through the medium of case studies and then via the particular conditions common in those markets including issues of religion and philosophy. This book has a three part structure beginning with the core principles behind the business of investments including securities analysis, asset allocation and a comprehensive analysis of modern finance theory. This gives students a comprehensive understanding of investment management by going through the theories, ethics and practice of investment management. This text provides a detailed overview of International Banking Law and International Securities Regulation, alongside legal and ethics case studies which are located in the practice section of the book. This book is an essential text for business and law school students who wish to have a thorough understanding of investment management. It is also perfect as a core text for undergraduate finance majors and graduate business students pursuing a finance, and/or business ethics concentration, with particular focus on Asia.
Book Synopsis The Handbook of Rational and Social Choice by : Paul Anand
Download or read book The Handbook of Rational and Social Choice written by Paul Anand and published by OUP Oxford. This book was released on 2009-01-15 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Rational and Social Choice provides an overview of issues arising in work on the foundations of decision theory and social choice over the past three decades. Drawing on work by economic theorists mainly, but also with contributions from political science, philosophy and psychology, the collection shows how the related areas of decision theory and social choice have developed in their applications and moved well beyond the basic models of expected utility and utilitarian approaches to welfare economics. Containing twenty-three contributions, in many cases by leading figures in their fields, the handbook shows how the normative foundations of economics have changed dramatically as more general and explicit models of utility and group choice have been developed. This is perhaps the first time these developments have been brought together in a manner that seeks to identify and make accessible the recent themes and developments that have been of particular interest to researchers in recent years. The collection will be of particular value to researchers in economics with interests in utility or welfare but it will also be of interest to any social scientist or philosopher interested in theories of rationality or group decision-making.
Book Synopsis FX Derivatives Trader School by : Giles Jewitt
Download or read book FX Derivatives Trader School written by Giles Jewitt and published by John Wiley & Sons. This book was released on 2015-06-29 with total page 629 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential guide to real-world derivatives trading FX Derivatives Trader School is the definitive guide to the technical and practical knowledge required for successful foreign exchange derivatives trading. Accessible in style and comprehensive in coverage, the book guides the reader through both basic and advanced derivative pricing and risk management topics. The basics of financial markets and trading are covered, plus practical derivatives mathematics is introduced with reference to real-world trading and risk management. Derivative contracts are covered in detail from a trader's perspective using risk profiles and pricing under different derivative models. Analysis is approached generically to enable new products to be understood by breaking the risk into fundamental building blocks. To assist with learning, the book also contains Excel practicals which will deepen understanding and help build useful skills. The book covers of a wide variety of topics, including: Derivative exposures within risk management Volatility surface construction Implied volatility and correlation risk Practical tips for students on trading internships and junior traders Market analysis techniques FX derivatives trading requires mathematical aptitude, risk management skill, and the ability to work quickly and accurately under pressure. There is a tremendous gap between option pricing formulas and the knowledge required to be a successful derivatives trader. FX Derivatives Trader School is unique in bridging that gap.
Book Synopsis Risk-Taking in International Politics by : Rose McDermott
Download or read book Risk-Taking in International Politics written by Rose McDermott and published by University of Michigan Press. This book was released on 2001 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the way leaders deal with risk in making foreign policy decisions
Book Synopsis Cognitive Biases in Visualizations by : Geoffrey Ellis
Download or read book Cognitive Biases in Visualizations written by Geoffrey Ellis and published by Springer. This book was released on 2018-09-27 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together the latest research in this new and exciting area of visualization, looking at classifying and modelling cognitive biases, together with user studies which reveal their undesirable impact on human judgement, and demonstrating how visual analytic techniques can provide effective support for mitigating key biases. A comprehensive coverage of this very relevant topic is provided though this collection of extended papers from the successful DECISIVe workshop at IEEE VIS, together with an introduction to cognitive biases and an invited chapter from a leading expert in intelligence analysis. Cognitive Biases in Visualizations will be of interest to a wide audience from those studying cognitive biases to visualization designers and practitioners. It offers a choice of research frameworks, help with the design of user studies, and proposals for the effective measurement of biases. The impact of human visualization literacy, competence and human cognition on cognitive biases are also examined, as well as the notion of system-induced biases. The well referenced chapters provide an excellent starting point for gaining an awareness of the detrimental effect that some cognitive biases can have on users’ decision-making. Human behavior is complex and we are only just starting to unravel the processes involved and investigate ways in which the computer can assist, however the final section supports the prospect that visual analytics, in particular, can counter some of the more common cognitive errors, which have been proven to be so costly.
Book Synopsis Judgment Misguided by : Jonathan Baron
Download or read book Judgment Misguided written by Jonathan Baron and published by Oxford University Press, USA. This book was released on 1998 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: People often follow intuitive principles of decision making, ranging from group loyalty to the belief that nature is benign. But instead of using these principles as rules of thumb, we often treat them as absolutes and ignore the consequences of following them blindly. In Judgment Misguided, Jonathan Baron explores our well-meant and deeply felt personal intuitions about what is right and wrong, and how they affect the public domain. Baron argues that when these intuitions are valued in their own right, rather than as a means to another end, they often prevent us from achieving the results we want. Focusing on cases where our intuitive principles take over public decision making, the book examines some of our most common intuitions and the ways they can be misused. According to Baron, we can avoid these problems by paying more attention to the effects of our decisions. Written in a accessible style, the book is filled with compelling case studies, such as abortion, nuclear power, immigration, and the decline of the Atlantic fishery, among others, which illustrate a range of intuitions and how they impede the public's best interests. Judgment Misguided will be important reading for those involved in public decision making, and researchers and students in psychology and the social sciences, as well as everyone looking for insight into the decisions that affect us all.
Book Synopsis Trend Following by : Michael W. Covel
Download or read book Trend Following written by Michael W. Covel and published by FT Press. This book was released on 2009 with total page 467 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover the investment strategy that works in any market. The one strategy that works in up and down markets, good times and bad.
Book Synopsis Executive Compensation in Imperfect Financial Markets by : Jay Cullen
Download or read book Executive Compensation in Imperfect Financial Markets written by Jay Cullen and published by Edward Elgar Publishing. This book was released on 2014-10-23 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book discusses the issue of executive compensation in Anglo-American financial markets following the financial crisis. The book begins by contextualizing the problem facing financial institutions in the US and the UK and argues that appr
Book Synopsis Inflation Expectations by : Peter J. N. Sinclair
Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Download or read book An End to the Bull written by Gary Norden and published by John Wiley & Sons. This book was released on 2014-08-15 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Go beyond technical analysis tools with this comprehensive look at trading analysis Strategies for successful trading analysis for all markets are out there, but they're not often found in books for the general public. So what are the secrets that professional traders know, but aren't willing to share? An End to the Bull: Cut Through the noise to Develop A Sustainable Trading Career is a robust, honest resource that presents an alternative approach to the markets, combining traditional technical tools with fundamental analysis, behavioral finance, and other key concepts to enrich readers' trading knowledge. The author's comprehensive, educated look at the topic fills a huge need in the trading community, and is ideal both for novices and experienced traders. In An End to the Bull, Norden suggests that total reliance on traditional technical analysis can lead to failure, and has ended in disappointment for many. The book offers up a unique approach for anyone looking to establish a sustainable trading career based on a combination of the most tried-and-true methods. While it focuses especially on trading in Australia, the book is a useful resource for international traders at all levels. Explains why change is needed in trading analysis and presents a revolutionary approach used by successful professional traders Shares the core techniques and strategies to build knowledge and establish a business-minded attitude Discusses more advanced ideas crucial for all traders, including understanding volatility and the typical flaws of behavioral finance Gives solid advice for traders anywhere in the world An End to the Bull takes the mystery out of trading analysis and puts the power to navigating markets into the hands of readers.
Book Synopsis Cognitive Illusions by : Rüdiger F Pohl
Download or read book Cognitive Illusions written by Rüdiger F Pohl and published by Psychology Press. This book was released on 2016-07-22 with total page 521 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cognitive Illusions explores a wide range of fascinating psychological effects in the way we think, judge and remember in our everyday lives. Featuring contributions from leading researchers, the book defines what cognitive illusions are and discusses their theoretical status: are such illusions proof for a faulty human information-processing system, or do they only represent by-products of otherwise adaptive cognitive mechanisms? Throughout the book, background to phenomena such as illusions of control, overconfidence and hindsight bias are discussed, before considering the respective empirical research, potential explanations of the phenomenon, and relevant applied perspectives. Each chapter also features the detailed description of an experiment that can be used as classroom demonstration. Featuring six new chapters, this edition has been thoroughly updated throughout to reflect recent research and changes of focus within the field. This book will be of interest to students and researchers of cognitive illusions, specifically, those focusing on thinking, reasoning, decision-making and memory.
