A brief history of our time -- Expectations, knowledge and prices -- Beyond price -- Savings, investment and liquidity -- Models, theories and apples -- Policy implications : finance -- Competition policy -- A new European capital market -- Geopolitics -- Technical annex: do we really need a new...

A brief history of our time -- Expectations, knowledge and prices -- Beyond price -- Savings, investment and liquidity -- Models, theories and apples -- Policy implications : finance -- Competition policy -- A new European capital market -- Geopolitics -- Technical annex: do we really need a new...

Using an extension of the prospect theory known as false reference points, this study examines the behavior of real estate investors after experiencing a loss. The results confirm our central hypothesis that when investors attempt to avoid the pain of regret by changing the lens through which...