Financial Behavior

H. Kent Baker is University Professor of Finance and Kogod Research Professor, Kogod School of Business, American University, and one of the most prolific finance academics.Greg Filbeck is Samuel P. Black III Professor of Finance and Risk Management, Penn State Erie, TheBehrend College, and serves as the Interim Director for the Black School of Business.Victor Ricciardi specializes in current trends in behavioral finance as Assistant Professor of Financial Management, Goucher College, and Coordinator of Behavioral and Experimental Research for the Social Science Research Network (SSRN).

• Contents List of FiguresList of TablesAbout the EditorsAbout the ContributorsAbbreviations Part One FINANCIAL BEHAVIOR AND PSYCHOLOGY1. Financial Behavior: An Overview H. Kent Baker, Greg Filbeck, and Victor Ricciardi2. The Financial Psychology of Players, Services, and Products Victor Ricciardi Part Two THE FINANCIAL BEHAVIOR OF MAJOR PLAYERS3. Individual Investors Henrik Cronqvist and Danling Jiang4. Institutional Investors Alexandre Skiba and Hilla Skiba5. Corporate Executives, Directors, and Boards John R. Nofsinger and Pattanaporn Chatjuthamard6. Financial Planners and Advisors Benjamin F. Cummings7. Financial Analysts Susan M. Young8. Portfolio Managers Erik Devos, Andrew C. Spieler, and Joseph M. Tenaglia 9. Financial Psychopaths Deborah W. Gregory Part Three FINANCIAL AND INVESTOR PSYCHOLOGY OF SPECIFIC PLAYERS10. The Psychology of High Net Worth IndividualsRebecca Li-Huang11. The Psychology of Traders Duccio Martelli12. A Closer Look at Frequent Trader Michal Strahivevitz13. The Psychology of Women Investors Marguerita M. Cheng, and Sameer S. Somal14. The Financial Psychology of Millennials April Rudin and Catherine McBreen Part Four THE PSYCHOLOGY OF FINANCIAL SERVICES15. Psychological Aspect of Financial Planning Dave Yeske and Elissa Buie16. Financial Advisory Services Jeroen Nieboer, Paul Dolan, and Ivo Vlaev17. Insurance and Risk Management James M. Moten Jr. and C. W. Copeland18. Psychological Factors in Estate Planning John Guerin and L. Paul Hood19. Individual Biases in Retirement Planning and Wealth Management James E. Brewer Jr., and Charles Self III Part Five THE BEHAVIORAL ASPECTS OF INVESTMENT PRODUCTS AND MARKETS20. Traditional Asset Allocation Securities: Stocks, Bonds, Real Estate, and Cash Christopher Milliken, Ehsan Nikbakht, and Andrew Spieler21. Behavioral Aspects of Mutual Funds, Exchange-Traded Funds, Hedge Funds, and Pension Funds Nathan Mauck22. Current Trends in Successful International Mergers and Acquisitions Nancy Hubbard23. Art and Collectibles Management Peter J. May Part Six MARKET EFFICIENCY ISSUES24. Behavioral Finance Market Hypothesis Alex Plastun25. Stock Market Anomalies Steve Fan and Linda Yu26. The Psychology of Speculation in Financial Markets Victor Ricciardi27. Can Humans Dance with Machines? Institutional Investors, High Frequency Trading, and Modern Markets Dynamics Irene Aldridge Part Seven THE APPLICATION AND FUTURE OF BEHAVIORAL FINANCE28. Applications of Client Behavior: A Practitioner's Perspective Harold Evensky29. Practical Challenges of Implementing Behavioral Finance: Reflections from the Field Greg B. Davies and Peter Brooks30. The Future of Behavioral Finance Michael Dowling and Brian Lucey Discussion Questions and AnswersIndex

The introduction by the editors says that behavioral finance studies the psychological influences of the decision-making process for individuals, groups, organizations and markets. It seeks to explain not just individual investment behavior, but market inefficiencies, stock market anomalies, and other occurrences that contradict the assumptions of traditional finance. Among the latter are that people act rationally, make unbiased judgments, and maximize their self-interest â the rational underpinnings of the efficient market hypothesis.