The Role Of Beliefs In Financial Markets

Download The Role Of Beliefs In Financial Markets full books in PDF, epub, and Kindle. Read online The Role Of Beliefs In Financial Markets ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

A Crisis of Beliefs

Author : Nicola Gennaioli
Publisher : Princeton University Press
ISBN 13 : 0691182507
Total Pages : 264 pages
Book Rating : 4.6/5 (911 download)

DOWNLOAD NOW!

Book Synopsis A Crisis of Beliefs by : Nicola Gennaioli

Download or read book A Crisis of Beliefs written by Nicola Gennaioli and published by Princeton University Press. This book was released on 2018-09-11 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: How investor expectations move markets and the economy The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. A Crisis of Beliefs makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today’s most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks. Nicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people—and how financial and economic instability persist. A must-read for anyone seeking insights into financial markets, A Crisis of Beliefs shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today’s unpredictable financial waters.

A Crisis of Beliefs

Author : Nicola Gennaioli
Publisher : Princeton University Press
ISBN 13 : 0691202230
Total Pages : 264 pages
Book Rating : 4.6/5 (912 download)

DOWNLOAD NOW!

Book Synopsis A Crisis of Beliefs by : Nicola Gennaioli

Download or read book A Crisis of Beliefs written by Nicola Gennaioli and published by Princeton University Press. This book was released on 2020-03-10 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: "How investor expectations move markets and the economy. The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. A Crisis of Beliefs makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today's most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks. Nicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people--and how financial and economic instability persist. A must-read for anyone seeking insights into financial markets, A Crisis of Beliefs shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today's unpredictable financial waters."--

The Role of Beliefs in Financial Markets

Author : Mohamad Mahmoud Al-Ississ
Publisher :
ISBN 13 :
Total Pages : 202 pages
Book Rating : 4.:/5 (655 download)

DOWNLOAD NOW!

Book Synopsis The Role of Beliefs in Financial Markets by : Mohamad Mahmoud Al-Ississ

Download or read book The Role of Beliefs in Financial Markets written by Mohamad Mahmoud Al-Ississ and published by . This book was released on 2010 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third essay investigates a seldom explored relationship, that between religion and financial markets. This study examines the effect of religious experience during the Muslim holy days of Ramadan and Ashoura on the daily returns and trading volume of seventeen Muslim financial markets. It uses the special characteristics of the Muslim lunar calendar to isolate the elusive effect of faith. The study documents statistically significant changes in daily returns and trading volume associated with religious experiences. The essay utilizes the heterogeneity of worship intensity within Ramadan as a natural experiment to validate the results' robustness.

Essays on the Role of Investor Beliefs in Financial Markets

Author : Tyrone William Callahan
Publisher :
ISBN 13 :
Total Pages : 268 pages
Book Rating : 4.:/5 ( download)

DOWNLOAD NOW!

Book Synopsis Essays on the Role of Investor Beliefs in Financial Markets by : Tyrone William Callahan

Download or read book Essays on the Role of Investor Beliefs in Financial Markets written by Tyrone William Callahan and published by . This book was released on 1999 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Investor Beliefs and Their Impact on Financial Markets

Author : Carolin Hartmann
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (134 download)

DOWNLOAD NOW!

Book Synopsis Investor Beliefs and Their Impact on Financial Markets by : Carolin Hartmann

Download or read book Investor Beliefs and Their Impact on Financial Markets written by Carolin Hartmann and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Review of "Religious Beliefs, Gambling Attitudes and Financial Market Outcomes"

Author : Maximiliane Brecht
Publisher : GRIN Verlag
ISBN 13 : 365697800X
Total Pages : 26 pages
Book Rating : 4.6/5 (569 download)

DOWNLOAD NOW!

Book Synopsis Review of "Religious Beliefs, Gambling Attitudes and Financial Market Outcomes" by : Maximiliane Brecht

Download or read book Review of "Religious Beliefs, Gambling Attitudes and Financial Market Outcomes" written by Maximiliane Brecht and published by GRIN Verlag. This book was released on 2015-06-11 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2014 in the subject Business economics - Miscellaneous, grade: 1.0, University Heidelberg Alfred-Weber-Institut of Economics, course: Religion and Financial Behavior, language: English, abstract: As religious faith plays a crucial role in people’s lives and largely influences their behavior as well as their decision making, the study of religiosity has a long tradition in many social science disciplines. Nevertheless, this relationship became only a topic of interest in modern economic studies since the last quarter of the twentieth century, when Ehrenberg and Azzi (1975) developed a utility-maximizing model taking into account both lifetime and afterlife utility (see, for example, Iannaccone, 1998; Jackson and Fleischer, 2007). In 2012, around 91% of the US American population professed to ”believe in God or a universal spirit” (Lugo, 2012), suggesting that if religion does shape economic behavior, it should also affect aggregate market outcome. Hence, studies investigate both microand macroeconomic effects of religiosity 2 , while some recent papers specifically address the relationship between religion and financial decisions: risk aversion and speculative behavior in particular are believed to depend on religious adherence. Not only have studies linked religiosity with a higher level of pure risk aversion in corporate decision making (Hilary and Hui, 2009), but also suggests current research that religious beliefs spill over in investment decisions due to different notions of gambling. For instance, Kumar (2009) found Catholics to be more willing to take on speculative risk by investing more in risky stocks than Protestants do. This paper aims to critically review Kumar, Page, and Spalt (2011) and structures as follows: firstly the theoretical framework of gambling in economics will be presented with a focus on cumulative prospect theory and its implications for asset pricing. Then follows a comprehensive overview of the theoretical background and empirical findings of the paper with focus on the influence of religion on investors’ portfolio decisions and on overpricing of initial public offerings. The subsequent section discusses the hypotheses of Kumar, Page, and Spalt (2011). Eventually, the last section concludes with a summary of the main findings in a broader context and with an outlook on future research.

Investment Beliefs

Author : K. Koedijk
Publisher : Springer
ISBN 13 : 0230307574
Total Pages : 188 pages
Book Rating : 4.2/5 (33 download)

DOWNLOAD NOW!

Book Synopsis Investment Beliefs by : K. Koedijk

Download or read book Investment Beliefs written by K. Koedijk and published by Springer. This book was released on 2010-12-08 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Having the right investment beliefs and putting them into practice is key to delivering the right results. Decision makers in the investment industry should worry less about the stocks and products they pick for their clients and more about getting the big picture right; developing investment beliefs are instrumental in making the right choices.

Essays on Heterogeneous Beliefs in Financial Markets

Author : Hao Sun
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)

DOWNLOAD NOW!

Book Synopsis Essays on Heterogeneous Beliefs in Financial Markets by : Hao Sun

Download or read book Essays on Heterogeneous Beliefs in Financial Markets written by Hao Sun and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Knowledge, Beliefs and Economics

Author : R. Arena
Publisher : Edward Elgar Publishing
ISBN 13 : 1847201539
Total Pages : 289 pages
Book Rating : 4.8/5 (472 download)

DOWNLOAD NOW!

Book Synopsis Knowledge, Beliefs and Economics by : R. Arena

Download or read book Knowledge, Beliefs and Economics written by R. Arena and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributors to this book also suggest the need for a more integrated perspective on the meaning, as well as the role, of knowledge and beliefs in economics in the future. Possible lines of future research such as the extension of the concept of rationality in economics or the focus on cognitive processes in economic action are discussed.

Evolutionary Beliefs in Financial Market

Author : Elyes Jouini
Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.:/5 (13 download)

DOWNLOAD NOW!

Book Synopsis Evolutionary Beliefs in Financial Market by : Elyes Jouini

Download or read book Evolutionary Beliefs in Financial Market written by Elyes Jouini and published by . This book was released on 2015 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do investors keep different opinions?

Measurement, Dynamics, and Implications of Heterogenous Beliefs in Financial Markets

Author : Saskia ter Ellen
Publisher :
ISBN 13 :
Total Pages : 152 pages
Book Rating : 4.:/5 (98 download)

DOWNLOAD NOW!

Book Synopsis Measurement, Dynamics, and Implications of Heterogenous Beliefs in Financial Markets by : Saskia ter Ellen

Download or read book Measurement, Dynamics, and Implications of Heterogenous Beliefs in Financial Markets written by Saskia ter Ellen and published by . This book was released on 2015 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Handbook of Financial Markets: Dynamics and Evolution

Author : Thorsten Hens
Publisher : Elsevier
ISBN 13 : 0080921434
Total Pages : 607 pages
Book Rating : 4.0/5 (89 download)

DOWNLOAD NOW!

Book Synopsis Handbook of Financial Markets: Dynamics and Evolution by : Thorsten Hens

Download or read book Handbook of Financial Markets: Dynamics and Evolution written by Thorsten Hens and published by Elsevier. This book was released on 2009-06-12 with total page 607 pages. Available in PDF, EPUB and Kindle. Book excerpt: The models of portfolio selection and asset price dynamics in this volume seek to explain the market dynamics of asset prices. Presenting a range of analytical, empirical, and numerical techniques as well as several different modeling approaches, the authors depict the state of debate on the market selection hypothesis. By explicitly assuming the heterogeneity of investors, they present models that are descriptive and normative as well, making the volume useful for both finance theorists and financial practitioners. Explains the market dynamics of asset prices, offering insights about asset management approaches Assumes a heterogeneity of investors that yields descriptive and normative models of portfolio selections and asset pricing dynamics

The Mind of Wall Street

Author : Leon Levy
Publisher : PublicAffairs
ISBN 13 : 0786730153
Total Pages : 237 pages
Book Rating : 4.7/5 (867 download)

DOWNLOAD NOW!

Book Synopsis The Mind of Wall Street by : Leon Levy

Download or read book The Mind of Wall Street written by Leon Levy and published by PublicAffairs. This book was released on 2009-03-25 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: As stock prices and investor confidence have collapsed in the wake of Enron, WorldCom, and the dot-com crash, people want to know how this happened and how to make sense of the uncertain times to come. Into the breach comes one of Wall Street's legendary investors, Leon Levy, to explain why the market so often confounds us, and why those who ought to understand it tend to get chewed up and spat out. Levy, who pioneered many of the innovations and investment instruments that we now take for granted, has prospered in every market for the past fifty years, particularly in today's bear market. In The Mind of Wall Street he recounts stories of his successes and failures to illustrate how investor psychology and willful self-deception so often play critical roles in the process. Like his peers George Soros and Warren Buffett, Levy takes a long and broad view of the rhythms of the markets and the economy. He also offers a provocative analysis of the spectacular Internet bubble, showing that the market has not yet completely recovered from its bout of "irrational exuberance." The Mind of Wall Street is essential reading for all of us, whether we are active traders or simply modest contributors to our 401(k) plans, as volatile and unnerving markets come to define so much of our net worth.

The Theory of Financial Markets and Information

Author : James A. Ohlson
Publisher : North-Holland
ISBN 13 :
Total Pages : 208 pages
Book Rating : 4.F/5 ( download)

DOWNLOAD NOW!

Book Synopsis The Theory of Financial Markets and Information by : James A. Ohlson

Download or read book The Theory of Financial Markets and Information written by James A. Ohlson and published by North-Holland. This book was released on 1987 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Evolutionary Strategic Beliefs and Financial Markets

Author : Elyes Jouini
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (13 download)

DOWNLOAD NOW!

Book Synopsis Evolutionary Strategic Beliefs and Financial Markets by : Elyes Jouini

Download or read book Evolutionary Strategic Beliefs and Financial Markets written by Elyes Jouini and published by . This book was released on 2015 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: We provide a discipline for belief formation through an evolutionary process which favors beliefs leading to higher utility levels at the Walrasian equilibrium. We show that such an evolutionary process converges to the Nash equilibrium in a game of strategic beliefs choices. The asymptotic beliefs are subjective and heterogeneous across the agents. Optimism (resp. overconfidence) as well as pessimism (resp. doubt) both emerge from the evolutionary process. Furthermore, we obtain a positive correlation between pessimism (resp. doubt) and risk-tolerance. We analyze the equilibrium characteristics. Under reasonable assumptions, the consensus belief is pessimistic and, as a consequence, the risk premium is higher than in a standard setting.

Nonlinear Adaptive Beliefs and the Dynamics of Financial Markets

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (648 download)

DOWNLOAD NOW!

Book Synopsis Nonlinear Adaptive Beliefs and the Dynamics of Financial Markets by :

Download or read book Nonlinear Adaptive Beliefs and the Dynamics of Financial Markets written by and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We introduce a simple asset pricing model with two types of adaptively learning traders, fundamentalists and technical traders. Traders update their beliefs according to past performance and to market conditions. The model generates endogenous price fluctuations and captures some stylized facts observed in real returns data, such as excess volatility, fat tails of returns distributions, volatility clustering, and long memory. We show that the results are quite robust w.r.t. to different choices for the performance measure. (author's abstract).

Financial Behavior

Author : H. Kent Baker
Publisher : Oxford University Press
ISBN 13 : 0190270012
Total Pages : 681 pages
Book Rating : 4.1/5 (92 download)

DOWNLOAD NOW!

Book Synopsis Financial Behavior by : H. Kent Baker

Download or read book Financial Behavior written by H. Kent Baker and published by Oxford University Press. This book was released on 2017-05-02 with total page 681 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Behavior: Players, Services, Products, and Markets provides a synthesis of the theoretical and empirical literature on the financial behavior of major stakeholders, financial services, investment products, and financial markets. The book offers a different way of looking at financial and emotional well-being and processing beliefs, emotions, and behaviors related to money. The book provides important insights about cognitive and emotional biases that influence various financial decision-makers, services, products, and markets. With diverse concepts and topics, the book brings together noted scholars and practitioners so readers can gain an in-depth understanding about this topic from experts from around the world. In today's financial setting, the discipline of behavioral finance is an ever-changing area that continues to evolve at a rapid pace. This book takes readers through the core topics and issues as well as the latest trends, cutting-edge research developments, and real-world situations. Additionally, discussion of research on various cognitive and emotional issues is covered throughout the book. Thus, this volume covers a breadth of content from theoretical to practical, while attempting to offer a useful balance of detailed and user-friendly coverage. Those interested in a broad survey will benefit as will those searching for more in-depth presentations of specific areas within this field of study. As the seventh book in the Financial Markets and Investment Series, Financial Behavior: Players, Services, Products, and Markets offers a fresh looks at the fascinating area of financial behavior.