Behavioural Finance: A Backround Briefing

• 발행기관: 한국회계정보학회
• 저자명: Richard G. P. McMahon
• 간행물 정보: 『Journal of Accounting and Finance』Vol.4, 45~64쪽, 전체 20쪽
• 주제분류: 경제경영 > 회계학
• 파일형태: PDF
• 발행일자: 2005.12.30

영문 초록

The principal purpose of this paper is to provide a background briefing on behavioural finance (BF) for those unfamiliar with this significant paradigm shift underway in finance scholarship. The paper synthesises and summarises a rapidly burgeoning literature on BF which, presently, is not as accessible as that concerned with modern finance theory. Attention is first given to what is meant by the rationality of financial agents, and the possibility is introduced that financial agents in an uncertain real world may be less than strictly rational. Thereafter, the various heuristics and cognitive biases that may characterise financial decision-making in an uncertain real world are catalogued and explained. The paper finishes with an assessment of the potential for BF to transform scholarship in finance.

목차

Introduction

Rationality of Financial Agents

Heuristics and Cognitive Biases

Discussion and Conclusions

References

키워드

Behavioural Finance Literature Review