The authors address the following two fundamental questions in the theory of exact aggregation: (1) What restrictions, if any, need to be imposed on the vector of aggregates in order that the aggregate demand functional representation be nontrivial and economically interesting? (2) What economic...

Purpose: There was unfinished business to address in the version of the planner–doer model developed in Thaler and Shefrin (1981). The unfinished business involved identifying and modeling the crucial roles played by temptation and mental accounting in pensions and savings behavior. The...

This original book takes psychological research, experimental economics, and recent business scenarios to provide both students and practitioners with the insights to develop a strong risk management strategy. Shefrin draws on his previous research into characterizing organizational culture...

Behavioral finance is the study of how psychology affects financial decision making and financial markets. A valuable resource for both academics and practitioners, this authoritative collection brings together the main works in both psychology and finance, dealing with the debate between...