Modern financial markets offer the real world's best approximation to the idealized price auction market envisioned in economic theory. Nevertheless, as the increasingly exquisite and detailed financial data demonstrate, financial markets often fail to behave as they should if trading were truly...

This book offers a definitive and wide-ranging overview of developments in behavioral finance over the past ten years. In 1993, the first volume provided the standard reference to this new approach in finance--an approach that, as editor Richard Thaler put it, "entertains the possibility that...

This inductive study examines the extent to which small, newly recruited investors learn to mimic the trading behaviors of experienced institutional investors in an emerging capital market characterized by policies that incentivize speculative trading in IPO shares. Theoretically, I explore how...