Ec4024 Lecture1819 Behavioural Fin

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EC4024 Lecture 17: Behavioural Finance 1 Stephen Kinsella: www.stephenkinsella.net

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Transcript of Ec4024 Lecture1819 Behavioural Fin

Page 1: Ec4024 Lecture1819 Behavioural Fin

EC4024 Lecture 17: Behavioural Finance 1Stephen Kinsella: www.stephenkinsella.net

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This Time

RECAP:

EMH/AMH

Expected Utility Theory

Behavioural Finance

Prospect Theory

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Recap

Efficient Markets HypothesisAdaptive Markets HypothesisExpected Utility Theory

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Expected Utility Theory www.xkvd.com

http://www.xkvd.com
http://www.xkvd.com
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Prospect Theory

Kahneman & Tversky (1979)Theory is: people treat losses differently to gains.

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Derivation

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Application

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Next TimeAnomaliesRead Liebowitz & Thaler


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