Three Essays on Behavioral Finance

Three Essays on Behavioral Finance

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This dissertation consists of three empirical essays that explore whether and how financial decision-making is influenced by some psychological factors that do not have a direct economic relevance. The hypotheses proposed here and the results obtained bring a challenge to the accuracy of the paradigm that has been dominating the theory of asset pricing, according to which investors' decisions are exclusively shaped by economic variables. Second, they represent a puzzle when interpreted in light of the Efficient Market Hypothesis.Air Pollution, Mood Misattribution, and Investment Decisions As it should be clear by now, the hypothesis advanced and tested in this essay builds upon research from psychology and medicine which argue, on the one hand, ... The key idea in that framework is that aquot;mood tends to inform decisions even when the cause of the mood is unrelated to the decision being madeaquot; (Lucey and Dowling, 2005a).

Title:Three Essays on Behavioral Finance
Author: Gabriele M. Lepori
Publisher:ProQuest - 2008

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