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...

Purpose: The purpose of this paper is to depict how the author's way from standard finance to the first and second generations of behavioral finance illustrates the ongoing general transition. Design/methodology/approach: The first generation, starting in the early 1980s, largely accepted...