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Ec4024 Lecture1819 Behavioural Fin
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Ec4024 Lecture1819 Behavioural Fin

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Transcript

  • 1. EC4024 Lecture 17: Behavioural Finance 1 Stephen Kinsella: www.stephenkinsella.net
  • 2. This Time RECAP: EMH/AMH Expected Utility Theory Behavioural Finance Prospect Theory
  • 3. Recap Efficient Markets Hypothesis Adaptive Markets Hypothesis Expected Utility Theory
  • 4. Expected Utility Theory www.xkvd.com
  • 5. Prospect Theory Kahneman Tversky (1979) Theory is: people treat losses differently to gains.
  • 6. Derivation
  • 7. Application
  • 8. Next Time Anomalies Read Liebowitz Thaler