Suchergebnisse

Chapter 1 Introduction -- Chapter 2 Conservatism bias and asset price overreaction or underreaction to new information in a competitive securities market -- Chapter 3 Conservatism bias and asset price overreaction or underreaction to new information in the presence of strategic interaction -- Chapter 4 Representativeness heuristic and asset price overreaction or underreaction to new information in a competitive securities market -- Chapter 5 Representativeness heuristic and asset price overreaction or underreaction to new information in the presence of strategic interaction -- Chapter 6 The presence of representativeness heuristic and conservatism bias in an asset market -- Chapter 7 Conclusion -- Appendix -- References.

Cover -- Title -- Copyright -- Contents -- Preface -- 1 Exemplification in Communication -- Conceptual Considerations -- Definition of the Exemplification Process -- Exemplification of Known Event Populations -- Exemplification of Unknown Event Populations -- Exemplification in Different Domains of Communication -- Exemplification in Personal Experience -- The Interface Between Direct and Mediated Experience -- 2 Exemplification in Practice -- American News -- News Magazines -- Television News -- Media Comparison -- Non-American News and Advertising -- Television-News Magazines -- Television Commercials -- Magazine Advertisements -- Comparison of Information Domains -- De Facto Exemplification in Fiction and in Quasi-Fiction -- 3 Information Processing -- The Function of Schemata -- Heuristics and Their Influence -- The Representativeness Heuristic -- The Availability Heuristic -- Vividness and Salience -- Chronic Accessibility -- Emotion as a Mediator -- Empathic and Counterempathic Reactivity -- Differently Diminishing Accessibilities -- Contingency Processing -- The Informative Function -- Affect Enhancement -- Model-Observer Affinity -- 4 Exemplification Effects of the News -- Foci of Exploration -- The Research Evidence -- Exemplar-Counterexemplar Distributions -- Base-Rate Influence -- Citation as Exemplar Enhancement -- Qualitatively Distorted Exemplification -- Emotional Displays in Exemplars -- Threatening Images in Exemplification -- Effects of Innocuous Image -- Incidental Pictorial Exemplification -- 5 Exemplification Effects of Fiction and Quasi-Fiction -- Correlational Demonstrations -- Experimental Demonstrations -- 6 Toward Exemplification Literacy -- Exemplification Literacy for Information Providers -- Exemplification Literacy for the Citizenry -- Closing Remarks -- References -- Author Index -- Subject Index.

Intro -- Foreword -- Acknowledgements -- Contents -- List of Illustrations -- Introduction -- Who is this Book For? -- Key Themes -- The Book's Structure -- The Perspectives from which I have Written this Book -- Where to Next? -- PART I: SETTING THE SCENE -- 1. When Legislation Fails -- 2. The Ways in which Legislation Fails -- The Damp Squib -- The Overshoot -- Nasty Surprises -- The Backfire -- A Focus on how Legislation Changes Behaviour -- 3. Learning from Past Failures -- Learning from Failure -- Causes of Legal Design Failures -- The Stories We Tell Ourselves about the Laws We Design -- The Importance of Team Composition and Dynamics -- A Better Model of the World for which We are Designing -- How Can We Do Better? -- The Implications of Our Limited Ability to Make Reliable Predictions -- 4. How Humans (Including Legal Designers) Actually Make Decisions -- Over-Confidence -- Substitution -- The Availability Heuristic -- The Affect Heuristic -- The Anchoring Effect -- The Representativeness Heuristic -- Confirmation Bias -- Loss Aversion -- Status Quo Bias -- The Framing Effect -- Social Influences -- The Planning Fallacy -- The Impact of Bias and Noise in Legal Design -- PART II: LESSONS FOR LEGAL DESIGNERS -- 5. Adopting a Structured Approach to Designing New Laws -- The Importance of a Structured Approach -- Responding to Uncertainty: Adaptive Legislation -- Some Tools to Improve How Legislation Works -- Who should do the Legal Design Work? -- Three Concerns -- 6. What is the Current Position? -- What is the Current Law? How Does it Operate in Practice? -- The Gap between the Law on Paper and the Law in Operation -- Gathering Information about How Laws Operate -- 7. What is the Legislation Aiming to Change? -- 8. Who are the Audiences for the Legislation?.

Front Matter -- Foundation and Key Concepts. Behavioral Finance: An Overview / H Kent Baker, John R Nofsinger -- Traditional Versus Behavioral Finance / Robert Bloomfield -- Behavioral Finance: Application and Pedagogy in Business Education and Training / Rassoul Yazdipour, James A Howard -- Heuristics Or Rules of Thumb / Hugh Schwartz -- Neuroeconomics and Neurofinance / Richard L Peterson -- Emotional Finance: The Role of the Unconscious in Financial Decisions / Richard J Taffler, David A Tuckett -- Experimental Finance / Robert Bloomfield, Alyssa Anderson -- the Psychology of Risk / Victor Ricciardi -- Psychological Influences on Financial Regulation and Policy / David Hirshleifer, Siew Hong Teoh -- Psychological Concepts and Behavioral Biases. Disposition Effect / Markku Kaustia -- Prospect Theory and Behavioral Finance / Morris Altman -- Cumulative Prospect Theory: Tests Using the Stochastic Dominance Approach / Haim Levy -- Overconfidence / Markus Glaser, Martin Weber -- the Representativeness Heuristic / Richard J Taffler -- Familiarity Bias / Hisham Foad -- Limited Attention / Sonya S Lim, Siew Hong Fteoh -- Other Behavioral Biases / Michael Dowling, Brian Lucey -- Behavioral Aspects of Asset Pricing. Market Inefficiency / Raghavendra Rau -- Belief and Preference-Based Models / Adam Szyszka -- Behavioral Corporate Finance. Enterprise Decision Making as Explained in Interview-Based Studies / Hugh Schwartz -- Financing Decisions / Jasmin Gider, Dirk Hackbarth -- Capital Budgeting and Other Investment Decisions / Simon Gervais -- Dividend Policy Decisions / Itzhak Ben David -- Loyalty, Agency Conflicts, and Corporate Governance / Randall Morck -- Initial Public Offerings / Francois Derrien -- Mergers and Acquisitions / Ming Dong -- Investor Behavior. Trust Behavior: The Essential Foundation of Financial Markets / Lynn A Stout -- Individual Investor Trading / Ning Zhu -- Individual Investor Portfolios / Valery Polkovnichenko -- Cognitive Abilities and Financial

The thirty-five chapters in this book describe various judgmental heuristics and the biases they produce, not only in laboratory experiments but in important social, medical, and political situations as well. Individual chapters discuss the representativeness and availability heuristics, problems in judging covariation and control, overconfidence, multistage inference, social perception, medical diagnosis, risk perception, and methods for correcting and improving judgments under uncertainty. About half of the chapters are edited versions of classic articles; the remaining chapters are newly written for this book. Most review multiple studies or entire subareas of research and application rather than describing single experimental studies. This book will be useful to a wide range of students and researchers, as well as to decision makers seeking to gain insight into their judgments and to improve them