research topics on behavioral finance

Review of Behavioral Finance

• Submit your paper
• Author guidelines
• Editorial team
• Indexing & metrics
• Calls for papers & news

Before you start

For queries relating to the status of your paper pre decision, please contact the Editor or Journal Editorial Office. For queries post acceptance, please contact the Supplier Project Manager. These details can be found in the Editorial Team section.

Author responsibilities

Our goal is to provide you with a professional and courteous experience at each stage of the review and publication process. There are also some responsibilities that sit with you as the author. Our expectation is that you will:

• Respond swiftly to any queries during the publication process.
• Be accountable for all aspects of your work. This includes investigating and resolving any questions about accuracy or research integrity .
• Treat communications between you and the journal editor as confidential until an editorial decision has been made.
• Include anyone who has made a substantial and meaningful contribution to the submission (anyone else involved in the paper should be listed in the acknowledgements).
• Exclude anyone who hasn’t contributed to the paper, or who has chosen not to be associated with the research.
• In accordance with COPE’s position statement on AI tools , Large Language Models cannot be credited with authorship as they are incapable of conceptualising a research design without human direction and cannot be accountable for the integrity, originality, and validity of the published work. The author(s) must describe the content created or modified as well as appropriately cite the name and version of the AI tool used; any additional works drawn on by the AI tool should also be appropriately cited and referenced. Standard tools that are used to improve spelling and grammar are not included within the parameters of this guidance. The Editor and Publisher reserve the right to determine whether the use of an AI tool is permissible.
• If your article involves human participants, you must ensure you have considered whether or not you require ethical approval for your research, and include this information as part of your submission. Find out more about informed consent .

Generative AI usage key principles

• Copywriting any part of an article using a generative AI tool/LLM would not be permissible, including the generation of the abstract or the literature review, for as per Emerald’s authorship criteria, the author(s) must be responsible for the work and accountable for its accuracy, integrity, and validity.
• The generation or reporting of results using a generative AI tool/LLM is not permissible, for as per Emerald’s authorship criteria, the author(s) must be responsible for the creation and interpretation of their work and accountable for its accuracy, integrity, and validity.
• The in-text reporting of statistics using a generative AI tool/LLM is not permissible due to concerns over the authenticity, integrity, and validity of the data produced, although the use of such a tool to aid in the analysis of the work would be permissible.
• Copy-editing an article using a generative AI tool/LLM in order to improve its language and readability would be permissible as this mirrors standard tools already employed to improve spelling and grammar, and uses existing author-created material, rather than generating wholly new content, while the author(s) remains responsible for the original work.
• The submission and publication of images created by AI tools or large-scale generative models is not permitted.

Research and publishing ethics

Our editors and employees work hard to ensure the content we publish is ethically sound. To help us achieve that goal, we closely follow the advice laid out in the guidelines and flowcharts on the COPE (Committee on Publication Ethics) website .

We have also developed our research and publishing ethics guidelines . If you haven’t already read these, we urge you to do so – they will help you avoid the most common publishing ethics issues.

A few key points:

• Any manuscript you submit to this journal should be original. That means it should not have been published before in its current, or similar, form. Exceptions to this rule are outlined in our pre-print and conference paper policies .  If any substantial element of your paper has been previously published, you need to declare this to the journal editor upon submission. Please note, the journal editor may use  Crossref Similarity Check  to check on the originality of submissions received. This service compares submissions against a database of 49 million works from 800 scholarly publishers.
• Your work should not have been submitted elsewhere and should not be under consideration by any other publication.
• If you have a conflict of interest, you must declare it upon submission; this allows the editor to decide how they would like to proceed. Read about conflict of interest in our research and publishing ethics guidelines .
• By submitting your work to Emerald, you are guaranteeing that the work is not in infringement of any existing copyright.
• If you have written about a company/individual/organisation in detail using information that is not publicly available, have spent time within that company/organisation, or the work features named/interviewed employees, you will need to clear permission by using the  consent to publish form ; please also see our permissions guidance for full details. If you have to clear permission with the company/individual/organisation, consent must be given either by the named individual in question or their representative, a board member of the company/organisation, or a HR department representative of the company/organisation.
• You have an ethical obligation and responsibility to conduct your research in adherence to national and international research ethics guidelines, as well as the ethical principles outlined by your discipline and any relevant authorities, and to be transparent about your research methods in such a way that all involved in the publication process may fairly and appropriately evaluate your work. For all research involving human participants, you must ensure that you have obtained informed consent, meaning that you must inform all participants in your work (or their legal representative) as to why the research is being conducted, whether their anonymity is protected, how their data will be stored and used, and whether there are any associated risks from participation in the study; the submitted work must confirm that informed consent was obtained and detail how this was addressed in accordance with our policy on informed consent .  
• Where appropriate, you must provide an ethical statement within the submitted work confirming that your research received institutional and national (or international) ethical approval, and that it complies with all relevant guidelines and regulations for studies involving humans, whether that be data, individuals, or samples. Specifically, the statement should contain the name and location of the institutional ethics reviewing committee or review board, the approval number, the date of approval, and the details of the national or international guidelines that were followed, as well as any other relevant information. You should also include details of how the work adheres to relevant consent guidelines along with confirming that informed consent was secured for all participants. The details of these statements should ensure that author and participant anonymity is not compromised. Any work submitted without a suitable ethical statement and details of informed consent for all participants, where required, will be returned to the authors and will not be considered further until appropriate and clear documentation is provided. Emerald reserves the right to reject work without sufficient evidence of informed consent from human participants and ethical approval where required.

Third party copyright permissions

Prior to article submission, you need to ensure you’ve applied for, and received, written permission to use any material in your manuscript that has been created by a third party. Please note, we are unable to publish any article that still has permissions pending. The rights we require are:

• Non-exclusive rights to reproduce the material in the article or book chapter.
• Print and electronic rights.
• Worldwide English-language rights.
• To use the material for the life of the work. That means there should be no time restrictions on its re-use e.g. a one-year licence.

We are a member of the International Association of Scientific, Technical, and Medical Publishers (STM) and participate in the STM permissions guidelines , a reciprocal free exchange of material with other STM publishers.  In some cases, this may mean that you don’t need permission to re-use content. If so, please highlight this at the submission stage.

Please take a few moments to read our guide to publishing permissions  to ensure you have met all the requirements, so that we can process your submission without delay.

Open access submissions and information

All our journals currently offer two open access (OA) publishing paths; gold open access and green open access.

If you would like to, or are required to, make the branded publisher PDF (also known as the version of record) freely available immediately upon publication, you can select the gold open access route once your paper is accepted. 

If you’ve chosen to publish gold open access, this is the point you will be asked to pay the APC (article processing charge) . This varies per journal and can be found on our APC price list or on the editorial system at the point of submission. Your article will be published with a Creative Commons CC BY 4.0 user licence , which outlines how readers can reuse your work.

Alternatively, if you would like to, or are required to, publish open access but your funding doesn’t cover the cost of the APC, you can choose the green open access, or self-archiving, route. As soon as your article is published, you can make the author accepted manuscript (the version accepted for publication) openly available, free from payment and embargo periods.

You can find out more about our open access routes, our APCs and waivers and read our FAQs on our open research page. 

Find out about open

Transparency and Openness Promotion (TOP) Guidelines

We are a signatory of the Transparency and Openness Promotion (TOP) Guidelines , a framework that supports the reproducibility of research through the adoption of transparent research practices. That means we encourage you to:

• Cite and fully reference all data, program code, and other methods in your article.
• Include persistent identifiers, such as a Digital Object Identifier (DOI), in references for datasets and program codes. Persistent identifiers ensure future access to unique published digital objects, such as a piece of text or datasets. Persistent identifiers are assigned to datasets by digital archives, such as institutional repositories and partners in the Data Preservation Alliance for the Social Sciences (Data-PASS).
• Follow appropriate international and national procedures with respect to data protection, rights to privacy and other ethical considerations, whenever you cite data. For further guidance please refer to our  research and publishing ethics guidelines . For an example on how to cite datasets, please refer to the references section below.

Prepare your submission

Manuscript support services.

We are pleased to partner with Editage, a platform that connects you with relevant experts in language support, translation, editing, visuals, consulting, and more. After you’ve agreed a fee, they will work with you to enhance your manuscript and get it submission-ready.

This is an optional service for authors who feel they need a little extra support. It does not guarantee your work will be accepted for review or publication.

Visit Editage

Manuscript requirements

Before you submit your manuscript, it’s important you read and follow the guidelines below. You will also find some useful tips in our structure your journal submission how-to guide.

Submit your manuscript

There are a number of key steps you should follow to ensure a smooth and trouble-free submission.

Double check your manuscript

Before submitting your work, it is your responsibility to check that the manuscript is complete, grammatically correct, and without spelling or typographical errors. A few other important points:

• Give the journal aims and scope a final read. Is your manuscript definitely a good fit? If it isn’t, the editor may decline it without peer review.
• Does your manuscript comply with our research and publishing ethics guidelines ?
• Have you cleared any necessary publishing permissions ?
• Have you followed all the formatting requirements laid out in these author guidelines?
• If you need to refer to your own work, use wording such as ‘previous research has demonstrated’ not ‘our previous research has demonstrated’.
• If you need to refer to your own, currently unpublished work, don’t include this work in the reference list.
• Any acknowledgments or author biographies should be uploaded as separate files.
• Carry out a final check to ensure that no author names appear anywhere in the manuscript. This includes in figures or captions.

You will find a helpful submission checklist on the website Think.Check.Submit .

The submission process

All manuscripts should be submitted through our editorial system by the corresponding author.

The only way to submit to the journal is through the journal’s ScholarOne site as accessed via the Emerald website, and not by email or through any third-party agent/company, journal representative, or website. Submissions should be done directly by the author(s) through the ScholarOne site and not via a third-party proxy on their behalf.

A separate author account is required for each journal you submit to. If this is your first time submitting to this journal, please choose the Create an account or Register now option in the editorial system. If you already have an Emerald login, you are welcome to reuse the existing username and password here.

Please note, the next time you log into the system, you will be asked for your username. This will be the email address you entered when you set up your account.

Don't forget to add your  ORCiD ID during the submission process. It will be embedded in your published article, along with a link to the ORCiD registry allowing others to easily match you with your work.

Don’t have one yet? It only takes a few moments to register for a free ORCiD identifier .

Visit the ScholarOne support centre  for further help and guidance.

What you can expect next

You will receive an automated email from the journal editor, confirming your successful submission. It will provide you with a manuscript number, which will be used in all future correspondence about your submission. If you have any reason to suspect the confirmation email you receive might be fraudulent, please contact the journal editor in the first instance.

Post submission

Review and decision process.

Each submission is checked by the editor. At this stage, they may choose to decline or unsubmit your manuscript if it doesn’t fit the journal aims and scope, or they feel the language/manuscript quality is too low.

If they think it might be suitable for the publication, they will send it to at least two independent referees for double anonymous peer review.  Once these reviewers have provided their feedback, the editor may decide to accept your manuscript, request minor or major revisions, or decline your work.

While all journals work to different timescales, the goal is that the editor will inform you of their first decision within 60 days.

During this period, we will send you automated updates on the progress of your manuscript via our submission system, or you can log in to check on the current status of your paper.  Each time we contact you, we will quote the manuscript number you were given at the point of submission. If you receive an email that does not match these criteria, it could be fraudulent and we recommend you contact the journal editor in the first instance.

Manuscript transfer service

Emerald’s manuscript transfer service takes the pain out of the submission process if your manuscript doesn’t fit your initial journal choice. Our team of expert Editors from participating journals work together to identify alternative journals that better align with your research, ensuring your work finds the ideal publication home it deserves. Our dedicated team is committed to supporting authors like you in finding the right home for your research.

If a journal is participating in the manuscript transfer program, the Editor has the option to recommend your paper for transfer. If a transfer decision is made by the Editor, you will receive an email with the details of the recommended journal and the option to accept or reject the transfer. It’s always down to you as the author to decide if you’d like to accept. If you do accept, your paper and any reviewer reports will automatically be transferred to the recommended journals. Authors will then confirm resubmissions in the new journal’s ScholarOne system.

Our Manuscript Transfer Service page has more information on the process.

If your submission is accepted

Open access.

Once your paper is accepted, you will have the opportunity to indicate whether you would like to publish your paper via the gold open access route.

If you’ve chosen to publish gold open access, this is the point you will be asked to pay the APC (article processing charge).  This varies per journal and can be found on our APC price list or on the editorial system at the point of submission. Your article will be published with a Creative Commons CC BY 4.0 user licence , which outlines how readers can reuse your work.

For UK journal article authors - if you wish to submit your work accepted by Emerald to REF 2021, you must make a ‘closed deposit’ of your accepted manuscript to your respective institutional repository upon acceptance of your article. Articles accepted for publication after 1st April 2018 should be deposited as soon as possible, but no later than three months after the acceptance date. For further information and guidance, please refer to the REF 2021 website.

All accepted authors are sent an email with a link to a licence form.  This should be checked for accuracy, for example whether contact and affiliation details are up to date and your name is spelled correctly, and then returned to us electronically. If there is a reason why you can’t assign copyright to us, you should discuss this with your journal content editor. You will find their contact details on the editorial team section above.

Proofing and typesetting

Once we have received your completed licence form, the article will pass directly into the production process. We will carry out editorial checks, copyediting, and typesetting and then return proofs to you (if you are the corresponding author) for your review. This is your opportunity to correct any typographical errors, grammatical errors or incorrect author details. We can’t accept requests to rewrite texts at this stage.

When the page proofs are finalised, the fully typeset and proofed version of record is published online. This is referred to as the EarlyCite version. While an EarlyCite article has yet to be assigned to a volume or issue, it does have a digital object identifier (DOI) and is fully citable. It will be compiled into an issue according to the journal’s issue schedule, with papers being added by chronological date of publication.

How to share your paper

Visit our author rights page  to find out how you can reuse and share your work.

To find tips on increasing the visibility of your published paper, read about  how to promote your work .

Correcting inaccuracies in your published paper

Sometimes errors are made during the research, writing and publishing processes. When these issues arise, we have the option of withdrawing the paper or introducing a correction notice. Find out more about our  article withdrawal and correction policies .

Need to make a change to the author list? See our frequently asked questions (FAQs) below.

Frequently asked questions

Editor-in-Chief

• Gulnur Muradoglu Queen Mary University of London - UK [email protected]

Associate Editors

• Ylva Baeckstrom King’s Business School, King’s College London - UK [email protected]
• Deven Bathia Queen Mary University of London - UK [email protected]
• Darren Duxbury Newcastle University - UK [email protected]
• Kristina Vasileva University of Westminster - UK [email protected]

Advisory Editor

• Werner DeBondt DePaul University - USA
• John Doukas Old Dominion University - USA
• David Hillier University of Strathclyde - UK
• Alok Kumar University of Miami - USA
• Hersh Shefrin Santa Clara University - USA
• Meir Statman Santa Clara University - USA
• Avanidhar Subrahmanyam UCLA Anderson School of Management - USA

Commissioning Editor

• Sophie Reckless Emerald Publishing - UK [email protected]

Journal Editorial Office (For queries related to pre-acceptance)

• Nikita Singh Emerald Publishing [email protected]

Supplier Project Manager (For queries related to post-acceptance)

• Suryalakshmi Balakrishnan Emerald Publishing [email protected]

Editorial Board

• Panagiotis Andrikopoulos Coventry University - UK
• Stelios Bekiros European University Institute, Italy and IPAG Business School - France
• Marie-Hélène Broihanne Strasbourg University - France
• Chris Brooks University of Reading - UK
• Stephen Y. L. Cheung Hong Kong Baptist University - People's Republic of China
• Jerry Coakley University of Essex - UK
• Mike Dempsey RMIT University - Australia
• Robert Durand Curtin University - Australia
• Catherine D’Hondt UCLouvain - Belgium
• Fotini Economou Centre of Planning and Economic Research (KEPE) - Greece
• Manapol Ekkayokkaya Chulalongkorn University - Thailand
• Robert Faff Bond University - Australia
• Emilios Galariotis Audencia Nantes School of Management - France
• M. Kabir Hassan University of New Orleans - USA
• Juergen Huber University of Innsbruck - Austria
• Robert Hudson University of Hull - UK
• David L. Ikenberry University of Colorado at Boulder - USA
• Vasileios Kallinterakis University of Liverpool - UK
• Mercy Kano Strathmore University - Kenya
• Brian Kluger University of Cincinnati - USA
• Gregory Koutmos Fairfield University - USA
• Brian Lucey Trinity College Dublin - Ireland
• Shafaq Malik Aston University - UK
• Viktor Manahov University of York - UK
• Nguyen Thi My Linh RMIT University - Vietnam
• John R. Nofsinger University of Alaska Anchorage - USA
• Ozlem Onder Ege Universitesi - Turkey
• Belma Ozturkkal Kadir Has University - Turkey
• Julio Pindado Universidad de Salamanca - Spain
• Sunil S. Poshakwale Cranfield School of Management, Cranfield University - UK
• Raghavendra Rau University of Cambridge - UK
• Dehua Shen Tianjin University, College of Management and Economics (COME) - People's Republic of China
• Eric Shi Dongbei University of Finance and Economics - People's Republic of China
• Tyler Shumway University of Michigan - USA
• Sheeja Sivaprasad University of Westminster - UK
• Daphne Sobolev UCL School of Management - UK
• Silvana Stefani Catholic University - Italy
• Livio Stracca European Central Bank - Germany
• Sudi Sudarsanam Cranfield School of Management - UK
• Richard Taffler The University of Warwick - UK
• Erik Theissen Universität Mannheim - Germany
• Kristina Vasileva Westminster Business School, University of Westminster - UK
• Martin Weber University of Mannheim - Germany
• Russell Wermers University of Maryland - USA
• Alain Wouassom Coventry University - UK
• Rukaiyat Yusuf University of Huddersfield - UK

Citation metrics

CiteScore 2023

Further information

CiteScore is a simple way of measuring the citation impact of sources, such as journals.

Calculating the CiteScore is based on the number of citations to documents (articles, reviews, conference papers, book chapters, and data papers) by a journal over four years, divided by the number of the same document types indexed in Scopus and published in those same four years.

For more information and methodology visit the Scopus definition

CiteScore Tracker 2024

(updated monthly)

CiteScore Tracker is calculated in the same way as CiteScore, but for the current year rather than previous, complete years.

The CiteScore Tracker calculation is updated every month, as a current indication of a title's performance.

2023 Impact Factor

The Journal Impact Factor is published each year by Clarivate Analytics. It is a measure of the number of times an average paper in a particular journal is cited during the preceding two years.

For more information and methodology see Clarivate Analytics

5-year Impact Factor (2023)

A base of five years may be more appropriate for journals in certain fields because the body of citations may not be large enough to make reasonable comparisons, or it may take longer than two years to publish and distribute leading to a longer period before others cite the work.

Actual value is intentionally only displayed for the most recent year. Earlier values are available in the Journal Citation Reports from Clarivate Analytics .

Publication timeline

Time to first decision

Time to first decision , expressed in days, the "first decision" occurs when the journal’s editorial team reviews the peer reviewers’ comments and recommendations. Based on this feedback, they decide whether to accept, reject, or request revisions for the manuscript.

Data is taken from submissions between 1st June 2023 and 31st May 2024

Acceptance to publication

Acceptance to publication , expressed in days, is the average time between when the journal’s editorial team decide whether to accept, reject, or request revisions for the manuscript and the date of publication in the journal. 

Data is taken from the previous 12 months (Last updated July 2024)

Acceptance rate

The acceptance rate is a measurement of how many manuscripts a journal accepts for publication compared to the total number of manuscripts submitted expressed as a percentage %

Data is taken from submissions between 1st June 2023 and 31st May 2024 .

This figure is the total amount of downloads for all articles published early cite in the last 12 months

(Last updated: July 2024)

This journal is abstracted and indexed by

• ABI/INFORM Complete/ ABI/INFORM Global/ ABI/INFORM Research (ProQuest)
• Academic Search Alumni Edition/ Academic Search Complete/ Academic Search Elite/ Academic Search Premier/ Business Source Alumni Edition/ Business Source Complete/ Business Source Corporate Plus/ Business Source Elite/ Business Source Premier (EBSCO)
• British Library
• Cabell’s Directory of Publishing Opportunities in Economics and Finance and Management
• Professional ABI/INFORM Complete
• Professional ProQuest Central
• ProQuest Central
• ProQuest Social Science Journals
• ReadCube Discover
• RePEc: Research Papers in Economics
• Web of Science Emerging Sources Citation Index (ESCI)
• The Chartered Association of Business Schools' (CABS) Academic Journal Guide 2018
• Australian Business Deans Council (ABDC)
• Australian Research Council ERA Journal List
• Polish Scholarly Bibliography (PBN)
• The Publication Forum (Finland).

Reviewer information

Peer review process.

This journal engages in a double-anonymous peer review process, which strives to match the expertise of a reviewer with the submitted manuscript. Reviews are completed with evidence of thoughtful engagement with the manuscript, provide constructive feedback, and add value to the overall knowledge and information presented in the manuscript.

The mission of the peer review process is to achieve excellence and rigour in scholarly publications and research.

Our vision is to give voice to professionals in the subject area who contribute unique and diverse scholarly perspectives to the field.

The journal values diverse perspectives from the field and reviewers who provide critical, constructive, and respectful feedback to authors. Reviewers come from a variety of organizations, careers, and backgrounds from around the world.

All invitations to review, abstracts, manuscripts, and reviews should be kept confidential. Reviewers must not share their review or information about the review process with anyone without the agreement of the editors and authors involved, even after publication. This also applies to other reviewers’ “comments to author” which are shared with you on decision.

Resources to guide you through the review process

Discover practical tips and guidance on all aspects of peer review in our reviewers' section. See how being a reviewer could benefit your career, and discover what's involved in shaping a review.

More reviewer information

Thank you to the 2023 Reviewers

The publishing and editorial teams would like to thank the following, for their invaluable service as 2023 reviewers for this journal. We are very grateful for the contributions made. With their help, the journal has been able to publish such high...

Thank you to the 2022 Reviewers

The publishing and editorial teams would like to thank the following, for their invaluable service as 2022 reviewers for this journal. We are very grateful for the contributions made. With their help, the journal has been able to publish such high...

Thank you to the 2021 Reviewers

The publishing and editorial teams would like to thank the following, for their invaluable service as 2021 reviewers for this journal. We are very grateful for the contributions made. With their help, the journal has been able to publish such high...

Thaler’s Nobel prize and the evolution of behavioral finance - special issue now available

The Special Issue ‘Thaler’s Nobel prize: the evolution of behavioral finance’ is now available online. Professor Richard Thaler’s Nobel Prize recognised his work in the field of behavioral f...

Literati awards

Review of Behavioural Finance  - Literati Award Winners 2023

We are pleased to announce our 2023 Literati Award winners. Outstanding Paper The impact of heuristic and herding bias...

Review of Behavioural Finance  - Literati Award Winners 2022 

We are pleased to announce our 2022 Literati Award winners. Outstanding Paper A test of the association betw...

Review of Behavioural Finance - Literati Award Winners 2021

We are pleased to announce our 2021 Literati Award winners. Outstanding Papers My way to the second generati...

Review of Behavioral Finance - Literati Award Winners 2020

We are pleased to announce our 2020 Literati Award winners. Outstanding Papers Do overconfident CEOs stay out of trouble? Evidence f...

Review of Behavioral Finance covers not only theoretical and empirical approaches to financial decision making, but also the way the behavioral attributes of the decision makers influence the financial structure of a company, investors’ portfolio, and the functioning of financial markets.

Aims and scope

Review of Behavioral Finance (RBF) welcomes high-quality empirical, experimental and theoretical research articles from the finance field as well as finance applications from psychology, sociology and decision sciences disciplines and is open to a wide spectrum of methodologies including those from finance, market accounting, economics, psychology, sociology and maths.

The journal’s coverage includes but is not limited to:

• Investment behaviour of individual and institutional investors
• Financial decision processes of listed or unlisted firms
• Risk measurement and asset pricing
• Trading strategies in financial (spot/derivative) markets
• The behaviour of financial markets
• Behavioral corporate finance
• Behavioral issues relating to market accounting
• Mutual and hedge funds
• Influence of financial regulation on behavior
• Behavioral approaches to household financial decision-making

Latest articles

These are the latest articles published in this journal (Last updated: July 2024)

Are women more risk-averse in investments? Brazilian evidence

Hierarchical complexity and seasoned equity offerings, herding behaviour surrounding the russo-ukraine war and covid-19 pandemic: evidence from energy, metal, livestock and grain commodities, top downloaded articles.

These are the most downloaded articles over the last 12 months for this journal (Last updated: July 2024)

Financial literacy bias: a comparison between students and nonstudents

Sentiment investor, exchange rates, geopolitical risk and developing stock market: evidence of co-movements in the time-frequency domain in war ukraine., can virtual reality nudge towards green investing an experiment with small business entrepreneurs.

These are the top cited articles for this journal, from the last 12 months according to Crossref (Last updated: July 2024)

Are small waves fondle and big waves overturn? Market reaction and corporate governance during four COVID-19 waves

Familiarity bias in direct stock investment by individual investors.

This journal is aligned with our responsible management goal

We aim to champion researchers, practitioners, policymakers and organisations who share our goals of contributing to a more ethical, responsible and sustainable way of working.

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• Trading Skills
• Trading Psychology

Behavioral Finance: Biases, Emotions and Financial Behavior

• Search Search Please fill out this field.

What Is Behavioral Finance?

Understanding behavioral finance, behavioral finance concepts.

• Biases Studied
• The Stock Market
• Behavioral Finance FAQs

The Bottom Line

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more. Her expertise is in personal finance and investing, and real estate.

• Behavioral Finance: Biases, Emotions and Financial Behavior CURRENT ARTICLE
• Introduction to Behavioral Finance
• Understanding Investor Behavior
• Market Psychology
• Power of the Masses Drives the Market
• Read the Market's Psychological State
• Herd Instinct
• When Fear and Greed Take Over
• Behavioral Biases and How to Avoid Them
• How to Avoid Emotional Investing
• Psychological Traps Investors Should Avoid
• Psychological Quirks That Affect Your Trading
• Removing the Barriers to Successful Investing
• Break Bad Trading Habits and Follow Your Rules
• Random Reinforcement: Why Most Traders Fail
• How to Develop a Trading Brain
• Let Your Profits Run
• The Art of Cutting Your Losses
• Positive Feedback
• Loss Psychology
• Psychological Coping Strategies for Handling Losses
• Regret Avoidance
• Technical Analysis That Indicates Market Psychology
• Psychology of Support and Resistance Zones
• Investing vs. Gambling
• The Downward Spiral of Trading Addiction
• The Casino Mentality In Trading

Behavioral finance, a subfield of behavioral economics , proposes that psychological influences and biases affect the financial behaviors of investors and financial practitioners. Moreover, influences and biases can be the source for the explanation of all types of market anomalies and specifically market anomalies in the stock market, such as severe rises or falls in stock price. As behavioral finance is such an integral part of investing, the Securities and Exchange Commission has staff specifically focused on behavioral finance.

Key Takeaways

• Behavioral finance is an area of study focused on how psychological influences can affect market outcomes.
• Behavioral finance can be analyzed to understand different outcomes across a variety of sectors and industries.
• One of the key aspects of behavioral finance studies is the influence of psychological biases.
• Some common behavioral financial aspects include loss aversion, consensus bias, and familiarity tendencies.
• The efficient market theory which states all equities are priced fairly based on all available public information is often debunked for not incorporating irrational emotional behavior.

Behavioral finance can be analyzed from a variety of perspectives. Stock market returns are one area of finance where psychological behaviors are often assumed to influence market outcomes and returns but there are also many different angles for observation. The purpose of the classification of behavioral finance is to help understand why people make certain financial choices and how those choices can affect markets.

Within behavioral finance, it is assumed that financial participants are not perfectly rational and self-controlled but rather psychologically influential with somewhat normal and self-controlling tendencies. Financial decision-making often relies on the investor's mental and physical health. As an investor's overall health improves or worsens, their mental state often changes. This impacts their decision-making and rationality towards all real-world problems, including those specific to finance.

One of the key aspects of behavioral finance studies is the influence of biases. Biases can occur for a variety of reasons. Biases can usually be classified into one of five key concepts. Understanding and classifying different types of behavioral finance biases can be very important when narrowing in on the study or analysis of industry or sector outcomes and results.

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Behavioral finance typically encompasses five main concepts:

• Mental accounting : Mental accounting refers to the propensity for people to allocate money for specific purposes.
• Herd behavior : Herd behavior states that people tend to mimic the financial behaviors of the majority of the herd. Herding is notorious in the  stock market  as the cause behind dramatic rallies and sell-offs.
• Emotional gap : The emotional gap refers to decision-making based on extreme emotions or emotional strains such as anxiety, anger, fear, or excitement. Oftentimes, emotions are a key reason why people do not make rational choices.
• Anchoring : Anchoring refers to attaching a spending level to a certain reference. Examples may include spending consistently based on a budget level or rationalizing spending based on different satisfaction utilities. 
• Self-attribution : Self-attribution refers to a tendency to make choices based on overconfidence in one's own knowledge or skill. Self-attribution usually stems from an intrinsic knack in a particular area. Within this category, individuals tend to rank their knowledge higher than others, even when it objectively falls short.

Behavioral finance is exploited through credit card rewards, as consumers are more likely to be willing to spend points, rewards, or miles as opposed to paying for transactions with direct cash.

Some Biases Revealed by Behavioral Finance

Breaking down biases further, many individual biases and tendencies have been identified for behavioral finance analysis. Some of these include:

Confirmation Bias

Confirmation bias  is when investors have a bias toward accepting information that confirms their already-held belief in an investment. If information surfaces, investors accept it readily to confirm that they're correct about their investment decision—even if the information is flawed.

Experiential Bias

An experiential bias occurs when investors' memory of recent events makes them biased or leads them to believe that the event is far more likely to occur again. For this reason, it is also known as recency bias or availability bias.

For example, the financial crisis in 2008 and 2009 led many investors to exit the stock market. Many had a dismal view of the markets and likely expected more economic hardship in the coming years. The experience of having gone through such a negative event increased their bias or likelihood that the event could reoccur. In reality, the economy recovered, and the market bounced back in the years to follow.

Loss Aversion

Loss aversion occurs when investors place a greater weighting on the concern for losses than the pleasure from market gains. In other words, they're far more likely to try to assign a higher priority to avoiding losses than making investment gains.

As a result, some investors might want a higher payout to compensate for losses. If the high payout isn't likely, they might try to avoid losses altogether even if the investment's risk is acceptable from a rational standpoint.

Applying loss aversion to investing, the so-called disposition effect occurs when investors sell their winners and hang onto their losers. Investors' thinking is that they want to realize gains quickly. However, when an investment is losing money, they'll hold onto it because they want to get back to even or their initial price. Investors tend to admit they are correct about an investment quickly (when there's a gain).

However, investors are reluctant to admit when they made an investment mistake (when there's a loss). The flaw in disposition bias is that the performance of the investment is often tied to the entry price for the investor. In other words, investors gauge the performance of their investment based on their individual entry price disregarding fundamentals or attributes of the investment that may have changed.

Familiarity Bias

The familiarity bias is when investors tend to invest in what they know , such as domestic companies or locally owned investments. As a result, investors are not diversified across multiple sectors and types of investments, which can reduce risk. Investors tend to go with investments that they have a history or have familiarity with.

Familiarity bias can occur in so many ways. You may resist investing in a specific company because of what industry it is in, where it operates, what products it sells, who oversees the management of the company, who its clientele base is, how it performs its marketing, and how complex its accounting is.

Behavioral Finance in the Stock Market

The  efficient market hypothesis (EMH) says that at any given time in a highly  liquid market , stock prices are efficiently valued to reflect all the available information. However, many studies have documented long-term historical phenomena in securities markets that contradict the efficient market hypothesis and cannot be captured plausibly in models based on perfect investor rationality.

The EMH is generally based on the belief that market participants view stock prices rationally based on all current and future intrinsic and external factors. When studying the stock market, behavioral finance takes the view that markets are not fully efficient. This allows for the observation of how psychological and social factors can influence the buying and selling of stocks.

The understanding and usage of behavioral finance biases can be applied to stock and other trading market movements on a daily basis. Broadly, behavioral finance theories have also been used to provide clearer explanations of substantial market anomalies like bubbles and deep recessions. While not a part of EMH, investors and portfolio managers have a vested interest in understanding behavioral finance trends. These trends can be used to help analyze market price levels and fluctuations for speculation as well as decision-making purposes. 

What Does Behavioral Finance Tell Us?

Behavioral finance helps us understand how financial decisions around things like investments, payments, risk, and personal debt, are greatly influenced by human emotion, biases, and cognitive limitations of the mind in processing and responding to information.

How Does Behavioral Finance Differ From Mainstream Financial Theory?

Mainstream theory, on the other hand, makes the assumptions in its models that people are rational actors, that they are free from emotion or the effects of culture and social relations, and that people are self-interested utility maximizers. It also assumes, by extension, that markets are efficient and firms are rational profit-maximizing organizations. Behavioral finance counters each of these assumptions.

How Does Knowing About Behavioral Finance Help?

By understanding how and when people deviate from rational expectations, behavioral finance provides a blueprint to help us make better, more rational decisions when it comes to financial matters.

What Is an Example of a Finding in Behavioral Finance?

Investors are found to systematically hold on to losing investments far too long than rational expectations would predict, and they also sell winners too early. This is known as the disposition effect, and is an extension of the concept of loss aversion to the domain of investing. Rather than locking in a paper loss, investors holding lose positions may even double down and take on greater risk in hopes of breaking even.

Behavioral finance is an area of economics that fuses with psychology. It ascribes the often irrational behavior of individuals when faced with financial choices to a variety of biases and heuristics. Often, individuals are unaware of the underlying biases at work that can underlie bad decision-making. A study of this area of finance is essential to anyone who wants to master the art of trading and investing.

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The International Center for Finance is a leading center for research in behavioral science – specifically, research in the fields of behavioral decision-making, behavioral economics, and behavioral finance. Behavioral decision-making studies the basic psychology of decision-making, while behavioral economics and behavioral finance study the role of irrational thinking in economic and financial decision-making, respectively. Yale’s research efforts in these fields have been helped immeasurably by the generous support of the Lynne & Andrew Redleaf Foundation (formerly Whitebox Advisors).

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Jeremy Stein’s research has covered such topics as behavioral finance and stock-market efficiency, corporate investment and financing decisions, risk management, capital allocation inside firms, banking, financial regulation, and monetary policy. He  was previously a co-editor of the Quarterly Journal of Economics and the Journal of Economic Perspectives , and has served on the editorial boards of several other economics and finance journals. He is a fellow of the American Academy of Arts and Sciences and research associate at the National Bureau of Economic Research.  In 2008, he was president of the American Finance Association. He has served in the Obama Administration as a senior advisor to the Treasury Secretary and on the staff of the National Economic Council.... Read more about Jeremy Stein

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55 Behavioral Finance Essay Topic Ideas & Examples

🏆 best behavioral finance topic ideas & essay examples, 👍 good essay topics on behavioral finance, 💡 most interesting behavioral finance topics to write about.

• JP Morgan Behavioral Finance Case Study They used momentum stocks to profit from the overconfidence bias and value stocks to profit from the loss aversion bias as their two key investment philosophies. The asset managers in JPMorgan’s asset management business were […]
• Behavioral Economics’ Impact on the Post-Pandemic Economy This should be used to analyze and develop conclusions on the influence of behavioral economics on the recovery of the economy following the epidemic.
• Researching of Behavioral Economics Behavioral economics is an analysis methodology that explores the effects of psychological, cognitive, emotional, cultural, and social factors on the decisions of individuals and institutions.
• Cost Containment Concept in Behavioral Economics The way out lies in a compromise solution for society and the state, in search of the optimal ratio of efficiency and cost of treatment, in the rational use of resources.
• How Behavioral Economics Affects Healthcare Decisions In terms of healthcare, behavioral economics can be applied to identify different behavioral triggers and use them to create environments in which individuals can make healthier choices.
• Review of “Misbehaving: The Making of Behavioral Economics” Book The global economic recession that started in the United States mortgage market and spread to other industries across the world is a perfect example of the danger of ignoring principles of psychology and experimental science.
• The Behavioral Finance Articles The juxtaposition of cash and extra-credit sessions will be cited as an important rationale in the context of the motivations for a particular choice.
• Behavioral Finance and Efficient Market Hypothesis The behavioral factors involved in the investment market decisions are discussed here for identifying the importance of behavioral finance.”Behavioural finance is the study of the influence of psychology on the behavior of financial practitioners and […]
• Behavioral Finance: Meaning of Macroeconomics Keen disapproves of all the economic theories that support the concept describing their flaws and mishaps. The theories they disapprove of have some flaws that are well stated and displayed.
• A Behavioral Finance Perspective on Corporate Mergers and Takeovers Corporate America has been called to task for losing sight of the proper goals of the business: generating economic returns, obtaining the resources and setting strategy for competitiveness and long-run growth, briskly fending off competition […]
• Behavioral Finance: A Comprehensive Approach In the context of behavioral finance, it is considered that the psychology of the participants of the market can influence the investment decisions and also the result of the market.
• Behavioral Economics in China Behavioral economics can be defined as the study of the effects of psychological, cultural, emotional, and cognitive factors in the process of making economic decisions involving individuals and organizations.
• Behavioral Economics and Finance In summary, Behavioral Finance is the modern branch of the economic theory, which explains the market situation based on the investors’ behavior.
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What is Behavioral Finance?

Behavioral finance is the study of the psychological factors, emotions and subconscious beliefs of investors and how they can affect decision-making. 

"Behavioral finance is the application of cognitive psychology to finance,” says Bradley Klontz, PsyD, CFP®, associate professor of practice in the Department of Economics and Finance at Creighton University. “Cognitive psychology examines how people acquire, process and store information, and it explores ways in which that affects emotions and behavior.”

Advisors now find themselves managing client behavior, and this is at the heart of behavioral finance.

“The relationship between advisor and client has become the most important aspect of financial planning,” says Klontz. “It's not about products. It's not about the investment portfolios. It's now the relationship that the advisor establishes with the client and the role they're playing in their client's life. 

“That role has now expanded beyond just selling products and managing portfolios."

Why is behavioral finance important?

Financial professionals use behavioral finance to help their clients identify and overcome certain psychological biases so they can make better financial decisions.

“If we understand what drives people to act irrationally in regard to their finances, experts can begin to build a framework to help people make better decisions—and that can help us better understand market behavior overall,” Klontz says.

“Understanding behavioral finance can help you better serve your clients,” he adds.

5 common psychological biases that affect investor decision-making

One of the key aspects that behavioral finance studies is the influence of psychological biases. Also known as cognitive biases, these are systematic errors in thinking that can sway our judgments and decision-making.

"All of these biases can be self-destructive in our current environment of modern finance,” Klontz says. “They can be explained by our prehistoric brain that was just trying to survive in a hunter-gatherer environment.

“It's only in recent times that we've even dealt with an abstract thing called money or investing. When we become emotionally charged, we become rationally challenged, and these biases kick in. We make these decisions from our emotional brain—which worked great in terms of our survival as a species—but it may not be as beneficial to us in our modern financial lives."

1. Loss aversion

Loss aversion is our natural tendency to avoid experiencing a real or perceived loss. This, in turn, affects how we make decisions relating to our finances.

"For example, with stocks, we have a disposition to hold on to losing stocks and sell winning stocks, which is the absolute opposite of what you should be doing,” Klontz says. “And part of that is because of our aversion to loss. If I have an investment that has tanked, selling it would mean admitting defeat. I would have to sit with the idea that I made a mistake. If I don't want to have that experience, I may hold onto it, even though it may be in my best interest to sell."

2. Familiarity bias

Familiarity bias is a cognitive bias that causes people to prefer familiar options over unfamiliar ones, even when the unfamiliar options may be better.

“The more familiar we are with something, the more likely we are to make bad decisions about it,” says Klontz. “It's part of our inherent cognitive laziness, and it's also related to safety and survival.

“Say you're looking at two potential food sources: one you’ve eaten for years and years, and one you've never seen before. That new food source might actually be healthier for you, but it's probably a good idea not to try it because it might kill you. So we have this natural tendency to prefer what’s familiar."

3. Herd instinct

Herd instinct (or herd mentality) refers to investors’ tendencies to follow what other investors are doing rather than their own research and analysis. 

"If everyone in your tribe got up and started sprinting south, it's a good idea for you to get up and start sprinting south,” Klontz says. “The people who didn't do that got picked off by a saber-toothed tiger."

A similar concept applies here.

“When we see people around us jumping into or out of a particular investment or asset class, it goes against our nature to sit still or do the opposite,” Klontz says. “The herd instinct helps explain every investment bubble and crash we have had throughout history.”

4. Overconfidence bias

Overconfidence bias is the tendency of investors to overestimate their knowledge and financial abilities. One of the key ways we see this bias play out is that, on average, women are better investors than men.

“And when we say better, we're talking as high as 1% annual return on average, which is huge,” Klontz says, referring to a pioneering study that examined gender and overconfidence.

“One of the reasons for this is that women may feel less confident in their ability to predict the right investments,” he says. “Men, in turn, tend to feel overconfident in their abilities, which causes them to trade more than women. By trading more, they hurt their performance.”

A study by Fidelity Investments confirms this. Based on an analysis of annual performance of 5.2 million accounts, the study found women investors tend to achieve positive returns and outperform men by 40 basis points.

5. Status quo bias

The status quo bias is people’s preference for things to stay as they are by sticking with a decision made previously. “This is our desire to keep things the way they are,” Klontz says. “So even in situations in which we should take action, doing nothing is our natural default and can work against us.”

Behavioral finance and the CFP® certification

The Certified Financial Planner™ certification is considered the standard of excellence in financial planning. The CFP Board now lists “psychology of financial planning” as one of the eight principal knowledge domains covered in the CFP® certification exam. “The fact that the CFP Board identified the psychology of financial planning as a formal knowledge topic to become a Certified Financial Planner is indicative of how important behavioral finance has become,” Klontz says. 

Which roles use behavioral finance in their day-to-day functions?

Regardless of whether you go on to earn the CFP® certification or not, a solid knowledge of behavioral finance is needed for the following roles, according to Klontz: 

• Financial planners
• Financial advisors
• Financial coaches
• Behavioral finance directors
• Financial wellness coordinators/financial wellness managers
• Financial therapists

Gain a competitive edge with a master’s in financial planning and financial psychology

If you’re interested in behavioral finance and/or want to prepare to sit for the CFP® exam, earning an online Master's in Financial Planning and Financial Psychology may be a good idea. The Creighton University program is one of the few graduate business programs in the country with a heavy emphasis in financial psychology taught by leading experts in the field.

Ready to learn more? Request more information today —one of our Creighton University Student Success Managers will reach out.  

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Courses of Study 2024-2025 PUBPOL 6971 - Topics in Public Finance and Behavioral Economics Sustainable Finance and Behavioral Finance Requisite Skills and Qualifications: Must be able to program in Stata, experience working with data, and have coursework in economics and econometrics. SUGGESTED TOPICS The Magazine Newsletters Managing Yourself Managing Teams Work-life Balance The Big Idea Data & Visuals Reading Lists Case Selections HBR Learning Topic Feeds Account Settings Email Preferences Why Cynics Are Less Likely to Succeed Three ways to stop cynicism from holding you and your organization back. New research in behavioral science has revealed that cynical thinking stands in the way of success in the workplace. Cynics, it turns out, earn less money, report lower job satisfaction, and are less likely to be elevated to leadership positions. That’s because success is not the winner-take-all battle that cynics believe it to be. Cynicism, in fact, can bleed workplaces of creativity, openness, and morale, and the bottom line — whereas the people who succeed at work tend to so by building trusting connections and alliances. As a research psychologist, the author has worked with organizations and leaders to help them fight cynicism and bring the cooperative advantage to their teams, and in this article he lays out some effective approaches for doing so. Five hundred years ago, writing in The Prince , Nicolo Machiavelli offered advice to leaders trying to grow their power. “It would serve [the Prince] to appear pious, faithful, humane, true, religious, and even to be so,” he wrote, “but only if he is willing, should it become necessary, to act in the opposite manner.” Jamil Zaki is a professor of psychology at Stanford University and the author of  Hope for Cynics: The Surprising Science of Human Goodness . Partner Center 245 IMAGES 134 questions with answers in BEHAVIORAL FINANCE (PDF) What Is Behavioral Finance? 2020 Fresh List of Behavioural Finance Dissertation Topics 99 Behavioural Finance Research Topics 27 Behavioural Finance Research Topics Ideas Role Of Behavioral Finance In The Financial Market COMMENTS Behavioral Finance Experiments: A Recent Systematic Literature Review Much of the financial literature focuses on the decisions of auditors and managers and the behavior of investors in negotiation decisions, leading to the publication of a large number of experimental studies in the 1960s and 1970s (Libby et al., 2002).Moreover, the instruments of the experimental method—the ability to observe directly, control, and manipulate variables—are adequate for the ... Behavioral Finance: Articles, Research, & Case Studies Behavioral finance replaces the traditional and idealized idea of rational decision makers with real and imperfect people who have social, cognitive, and emotional biases. The resulting inefficiencies in the capital markets can create opportunities for investment managers and firms. Closed for comment; 0 Comments. 1. Behavioral finance in a hundred keywords 1. Introduction. Behavioral economics and finance have emerged as research areas that have revolutionized economic and finance theories. Since the first studies of the discipline [1, 2] these areas have experienced a steady increase in research interest.During the XXI century, the Academy has validated the importance of this behavioral approach by awarding several Nobel prizes in economic ... The knowledge domain and emerging trends in Behavioral Finance: A Growing research on behavioral finance themes, underdeveloped research in behavioral accounting, future research directions proposed: VOS viewer: Scopus: 1973-2019: ... The top research topics in this cluster are psychologically volatility, asset bubble, and anomalies market. The most cited work in this cluster is by s (2015), which warned of ... Journal of Behavioral Finance: Vol 25, No 3 (Current issue) Published online: 16 Aug 2024. Gaoshan Wang et al. Published online: 16 Aug 2024. Lucy F. Ackert et al. Published online: 4 Aug 2024. View all latest articles. Explore the current issue of Journal of Behavioral Finance, Volume 25, Issue 3, 2024. 33698 PDFs Explore the latest full-text research PDFs, articles, conference papers, preprints and more on BEHAVIORAL FINANCE. Find methods information, sources, references or conduct a literature review on ... Journal of Behavioral Finance Peer Review Policy: All research articles in Journal of Behavioral Finance have undergone rigorous peer review, based on initial editor screening and anonymous refereeing by two anonymous referees. Publication office: Taylor & Francis, Inc., 530 Walnut Street, Suite 850, Philadelphia, PA 19106. Read full aims and scope. Behavioral Finance Behavioral finance deals with the study of influence of psychology on the behavior of financial practitioners and its subsequent effects on markets. Behavioral finance offers explanation for why and how markets are inefficient. Through a series of experiments, Kahneman and Tversky (1979) developed the prospect theory. Their research indicate ... Behavioral Finance Experiments: A Recent Systematic Literature Review Abstract. This article aims to elaborate a systematic literature review (SLR) on the subject of experiments in behavioral finance, including papers published between 2014 and 2018. Methodology involved the careful selection of articles published in Web of Science and Scopus databases, and bibliometric analysis was applied. Review of Behavioral Finance Review of Behavioral Finance (RBF) welcomes high-quality empirical, experimental and theoretical research articles from the finance field as well as finance applications from psychology, sociology and decision sciences disciplines and is open to a wide spectrum of methodologies including those from finance, market accounting, economics ... Research By: Robin Greenwood, Samuel G. Hanson, Jeremy C. Stein & Adi Sunderam. AUG 2017. In this forthcoming brookings paper, researchers from Harvard Business School and the Behavioral Finance and Financial Stability initiative assess the merits of bank regulation since the financial crisis of 2008-2009. Behavioral Finance: Biases, Emotions and Financial Behavior Behavioral finance is a field of finance that proposes psychology-based theories to explain stock market anomalies such as severe rises or falls in stock price. Within behavioral finance , it is ... (PDF) AN IMPACT OF BEHAVIOURAL FINANCE ON INVESTMENT ... Purpose — This paper aims to analyze current research trends, identify theoretical perspectives, and identify research topics of behavioral bias in financial decision-making in the future. PDF Behavioral Finance: the Psychology Behind Financial Decision-making Behavioral finance offers a comprehensive perspective on financial decision-making by acknowledging the intricate interplay between psychology and economics. By understanding the cognitive biases, emotional influences, and heuristics that shape our choices, individuals can strive for more rational financial decision-making. ... Behavioral Finance & Financial Stability The Behavioral and Financial Stability Project, founded at Harvard Business School, supports research collaborations between faculty and students across Harvard University to understand, predict and prevent financial instability. The BFFS project also maintains an ongoing real-time database of financial stability and investor sentiment measures ... Full article: Behavioral finance factors and investment decisions: A 1. Introduction. The traditional finance theory assumes that investors always make rational decisions based on complete information, but behavioral finance argues that investors are influenced by their emotions, biases, and cognitive limitations (Almansour & Arabyat, Citation 2017).The debate between modern finance theory and behavioral finance theory on the influence of non-financial factors ... Behavioral Finance & Financial Stability Malcolm Baker is the Robert G. Kirby Professor of Business Administration at the Harvard Business School. He was the Unit Head for finance from 2014 to 2018, and the program director for corporate finance at the National Bureau of Economic Research from 2011 to 2018. His research is in the areas of behavioral finance, corporate finance, and ... Behavioral Finance: Prospect Theory Topics in Decision-Making Behavioural finance studies these biases and their implications on the decision-making process of investors. Being a relatively new area of knowledge, the challenges it poses to traditional ... Behavioral Finance Research Behavioral decision-making studies the basic psychology of decision-making, while behavioral economics and behavioral finance study the role of irrational thinking in economic and financial decision-making, respectively. Yale's research efforts in these fields have been helped immeasurably by the generous support of the Lynne & Andrew Redleaf ... Behavioral Finance Moise Y. Safra Professor of Economics. Jeremy Stein's research has covered such topics as behavioral finance and stock-market efficiency, corporate investment and financing decisions, risk management, capital allocation inside firms, banking, financial regulation, and monetary policy. He was previously a co-editor of the Quarterly Journal of ... Behavioral Finance Behavioral Finance. The Behavioral Finance Working Group studies financial markets using approaches grounded in psychological research, with applications in asset pricing, corporate finance, and household finance. The latest working group meeting. 55 Behavioral Finance Essay Topic Ideas & Examples Researching of Behavioral Economics. Behavioral economics is an analysis methodology that explores the effects of psychological, cognitive, emotional, cultural, and social factors on the decisions of individuals and institutions. Cost Containment Concept in Behavioral Economics. What is Behavioral Finance? Behavioral finance is the study of the psychological biases, emotions and subconscious beliefs of investors and how they can affect decision-making. ... refers to investors' tendencies to follow what other investors are doing rather than their own research and analysis. ... "The fact that the CFP Board identified the psychology of financial ... Behavioral finance for financial advisor clients Explore more behavioral finance resources. Find all program resources Find all program resources. ... This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed may ... PUBPOL 6971 The goal of the course is to identify open questions at the research frontier and to develop new research ideas. Outcome 1: Identify key concepts in public finance and behavioral economics recalling the main theories, models, and empirical findings discussed in class and readings. Sustainable Finance and Behavioral Finance Sustainable Finance and Behavioral Finance I am interested in hiring 1-2 RAs for empirical research projects in behavioral finance and sustainable finance / ESG investing. For an idea of the type of research that might be conducted, please see ... Why Cynics Are Less Likely to Succeed Summary. New research in behavioral science has revealed that cynical thinking stands in the way of success in the workplace. Cynics, it turns out, earn less money, report lower job satisfaction ... Autistic traits, behavioral problems in 7-year-olds ... Gender-specific play behavior in relation to autistic traits and behavioral difficulties at the age of seven in the SELMA study. PLOS ONE , 2024; 19 (8): e0308605 DOI: 10.1371/journal.pone.0308605 Elon Musk's Twitter Takeover Is Now the Worst Buyout for Banks Since Topics. Airlines. Autos. C-Suite. Deals. Earnings. Energy & Oil. ... The $13 billion that Elon Musk borrowed to buy Twitter has turned into the worst merger-finance deal for banks since the 2008 ... What are the hot topics in behavioral finance in the spot now? B.T Matemilola. Universiti Putra Malaysia. I have come across some recent topics in behavioral finance such as: Psychological biases in financial investment behaviour; Applying behavioral finance ... assignment essay homework phd report resume review speech thesis