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Does Expertise Influence the Impact of Overconfidence on Judgment, Valuation and Investment Decision?

Lambert, Jerome - 2012

Empirical research documents that overconfidence has a strong impact on investment decision. In this experimental study …), control in the role of risk aversion, and implement different measures of overconfidence (miscalibration in two formats – the … in the degree of overconfidence. However, overconfidence seems to determine decision-making in a different way across the …

Persistent link: https://www.econbiz.de/10013101495

Dynamic Asset Allocation Based on Valuation and Momentum Applied to a Global All-Equity Portfolio

White, James - 2020

There has been considerable research into dynamic global tactical asset allocation (GTAA) strategies driven by simple measures of Valuation and Momentum applied to a baseline balanced portfolio of equities and fixed income (see Blitz and van Vliet 2008, Wang and Kochard 2011, Gnedenko and Yelnik...

Persistent link: https://www.econbiz.de/10012838940

When (If Ever) Has it Paid to Wait for a Stock Market Correction?

Haghani, Victor - 2017

Investors are periodically challenged with this question: with funds ready to invest, but faced with a market that is generally perceived to be expensive, is it better to wait for a market correction before investing? Many investors are certain that a correction must be around the corner, and...

Persistent link: https://www.econbiz.de/10012947040

What Our Market Return Forecasts Really Mean : Convexity in Equity Returns and its Implications for Investment Sizing

Haghani, Victor - 2019

You're probably familiar, at least in passing, with the 'convexity' of long-term bonds - i.e. that yields dropping 1% produce a bigger price move than yields rising 1%. A significant amount of brainpower has gone into understanding all the ramifications of this convexity in the fixed income...

Persistent link: https://www.econbiz.de/10012902324

When it Pays to Pay Capital Gains

Haghani, Victor - 2019

Persistent link: https://www.econbiz.de/10012890821

Compared to Dematerialized Money, Cash Increases Impatience in Intertemporal Choice

Duclos, Rod - 2019

When it comes to trading time for money (or vice versa), people tend to be impatient and myopic. Often dramatically so. For illustration, half of people would rather collect $15 now than $30 in three months. This willingness to forego 50% of the reward to skip a 3-month wait corresponds to an...

Persistent link: https://www.econbiz.de/10012893915

A Penny Saved Is Two Pennies Earned

White, James - 2019

Benjamin Franklin's original maxim found in Poor Richard's Almanac was actually "A penny saved is two pence clear" rather than the more commonly known "A penny saved is a penny earned." We believe he was getting at the notion that one risk-free penny is worth two pennies of expected but...

Persistent link: https://www.econbiz.de/10012899550

Asymmetric Reaction is Rational Behavior

Horvath, Philip A. - 2014

DeBondt and Thahler (1995) point out that while von Neumann-Morgenstern (1947) utility functions, the axioms of cardinal utility (Copeland and Weston, 1992), risk aversion, rational expectations, etc., have formed the basis for theories of choice under uncertainty, research in behavioral...

Persistent link: https://www.econbiz.de/10013056626

The Origin of Behavior

Brennan, Thomas J. - 2010

We propose a single evolutionary explanation for the origin of several behaviors that have been observed in organisms ranging from ants to human subjects, including risk-sensitive foraging, risk aversion, loss aversion, probability matching, randomization, and diversification. Given an initial...

Persistent link: https://www.econbiz.de/10013150286

Presentation Slides for American Finance Association 2020 Presidential Address : Social Transmission Bias in Economics and Finance

Hirshleifer, David A. - 2020

<p>This document contains presentation slides for the American Finance Association's Presidential Address of January 4, 2020. The address is based on the paper "Social Transmission Bias in Economics and Finance."</p><p>The paper: "https://ssrn.com/abstract=3550880" https://ssrn.com/abstract=3550880...</p>

Persistent link: https://www.econbiz.de/10012844892