Fung, Eric S.; Lam, Kin; Siu, Tak-Kuen; Wong, Wing-Keung - In: Journal of Risk and Financial Management 4 (2011) 1, pp. 43-73
Recently, there has been a considerable interest in the Bayesian approach for explaining investors' behaviorial biases by incorporating conservative and representative heuristics when making financial decisions, (see, for example, Barberis, Shleifer and Vishny (1998)). To establish a...
