| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24723 |
| 来源ID | Working Paper 24723 |
| Psychology-based Models of Asset Prices and Trading Volume | |
| Nicholas C. Barberis | |
| 发表日期 | 2018-06-18 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Behavioral finance tries to make sense of financial data using models that are based on psychologically accurate assumptions about people's beliefs, preferences, and cognitive limits. I review behavioral finance approaches to understanding asset prices and trading volume, with particular emphasis on three types of models: extrapolation-based models, models of overconfident beliefs, and models of gain-loss utility inspired by prospect theory. The research to date shows that a few simple assumptions about investor psychology capture a wide range of facts about prices and volume and lead to concrete new predictions. I end by speculating about the form that a unified psychology-based model of investor behavior might take. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Behavioral Finance |
| URL | https://www.nber.org/papers/w24723 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582396 |
| 推荐引用方式 GB/T 7714 | Nicholas C. Barberis. Psychology-based Models of Asset Prices and Trading Volume. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24723.pdf（593KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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