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Handbook of Financial Markets: Dynamics and Evolution
Imprint: North Holland
Format: ePub Encrypted (DRM)
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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
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| Title of Business & Economics eBook: Handbook of Financial Markets: Dynamics and Evolution | |
| Release Date: 01-14-2009 | |
| Publisher: North Holland |
This eBook download is available in the following formats:
| Parent title | Handbook of Financial Markets:... |
|---|---|
| Encrypted (DRM) | Yes |
| SKU | 9780080921433 |
| File size | 12863 |
| Security | n/a |
| Printing | Not allowed |
| Copying | Not allowed |
| Read aloud | No Sys requirements Download reader |
| Devices | Samsung Tablet, Apple Ipad & Iphone, Barnes & Noble Nook, Kobo eReader, Aluratek Libre, Iliad, Nokia, Blackberry, Hanlin |
| Note | Excellent navigation features are available via Adobe such as bookmarks and a quick access table of contents. Text search is easily accessible. An Adobe DRM-protected file is different than a pdf file in that it uses Adobe DRM (Digital Rights Management) technology, which authors and publishers use to protect their content from illegal online distribution and to set certain privileges such as restrictions on copying and printing. |
Handbook of Financial Markets: Dynamics and Evolution
Chapter One
Thought and Behavior Contagion in Capital Markets
David Hirshleifer and Siew Hong Teoh Merage School of Business University of California–Irvine
1.1. Introduction 2
1.2. Sources of Behavioral Convergence 5
1.3. Rational Learning and Information Cascades: Basic Implications 7
1.4. What Is Communicated or Observed? 9 1.4.1. Observation of Past Actions Only 10 1.4.2. Observation of Consequences of Past Actions 15 1.4.3. Conversation, Media, and Advertising 16
1.5. Psychological Bias 17
1.6. Reputation, Contracts, and Herding 18
1.7. Security Analysis 20 1.7.1. Investigative Herding 20 1.7.2. Herd Behavior by Stock Analysts and Other Forecasters 21
1.8. Herd Behavior and Cascades in Security Trading 24 1.8.1. Evidence on Herding in Securities Trades 24 1.8.2. Financial Market Runs and Contagion 27 1.8.3. Exploiting Herding and Cascades 28
1.9. Markets, Equilibrium Prices, and Bubbles 29
1.10. Cascades and Herding in Firm Behavior 36 1.10.1. Investment and Financing Decisions
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