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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

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

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

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

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

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

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

Rational Decision-Making under Uncertainty : Observed Betting Patterns on a Biased Coin

Haghani, Victor - 2016

What would you do if you were invited to play a game where you were given $25 and allowed to place bets for 30 minutes on a coin that you were told was biased to come up heads 60% of the time? This is exactly what we did, gathering 61 young, quantitatively trained men and women to play this...

Persistent link: https://www.econbiz.de/10012980760

Expectation-driven term structure of equity and bond yields

Zeng, Ming; Zhao, Guihai - 2022 - Last updated: May 11, 2022

Recent findings on the term structure of equity and bond yields pose serious challenges to existing models of equilibrium asset pricing. This paper presents a new equilibrium model of subjective expectations to explain the joint historical dynamics of equity and bond yields (and their yield...

Persistent link: https://www.econbiz.de/10013193433

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