EC4024 Lecture 17: Behavioural Finance 1
Stephen Kinsella: www.stephenkinsella.net
This Time

 RECAP:


      EMH/AMH


      Expected Utility Theory


 Behavioural Finance


 Prospect Theory
Recap



        Efficient Markets Hypothesis
        Adaptive Markets Hypothesis
        Expected Utility Theory
Expected Utility Theory   www.xkvd.com
Prospect Theory
Kahneman  Tversky (1979)
Theory is: people treat losses
differently to gains.
Derivation
Application
Next Time
Anomalies
Read Liebowitz  Thaler
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Ec4024 Lecture1819 Behavioural Fin

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Ec4024 Lecture1819 Behavioural Fin

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