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Book Cover
Author Baker, H. Kent (Harold Kent), 1944-

Title Investor behavior : the psychology of financial planning and investing / H. Kent Baker and Victor Ricciardi
Published Hoboken, New Jersey : John Wiley & Sons, Inc., [2014]
Table of Contents
pt. One Foundations of Investor Behavior 
ch. 1 Investor Behavior: An Overview / Victor Ricclardl3
 Organization of the Book11
 About the Authors23
ch. 2 Traditional and Behavioral Finance / Lucy F. Ackert25
 Traditional Finance26
 Behavioral Finance31
 Discussion Questions39
 About the Author41
ch. 3 Behavioral Economics, Thinking Processes, Decision-Making, and Investment Behavior / Morris Altman48
 Behavioral Economics, Heuristics, and Decision-Making44
 Investment Heuristics and Investing in Financial Assets45
 The Trust Heuristic and Decision-Making48
 Other Critical Decision-Making Heuristics49
 Rational Investor Decision-Making in a World of Complex Information56
 Discussion Questions59
 About the Author61
pt. Two Personal Finance Issues 
ch. 4 Financial Literacy and Education / Sandra J. Huston65
 Examples of Financial Literacy Measures68
 Financial Literacy and Behavior71
 Financial Literacy Education75
 Discussion Questions78
 About the Authors81
ch. 5 Household Investment Decisions / Vickl L. Bogan83
 Financial Market Participation83
 Market Friction Effects on Household Investment Behavior85
 The Effects of Behavioral Biases on Household Investment Behavior87
 Discussion Questions94
 About the Author98
ch. 6 Personality Traits / Robert B. Durand99
 A Structural Model of Personality100
 Risk-Taking Behavior103
 Personality and Gender105
 Personality as a Guide for Investors107
 Discussion Questions109
 About the Authors114
ch. 7 Demographic and Socioeconomic Factors of Investors / James Farrell117
 Literature Review118
 Case Study: The Florida Department of Education Employees122
 Discussion Questions132
 About the Author134
ch. 8 The Effect of Religion on Financial and Investing Decisions / Mouna Jiassi185
 Religions and Economic Factors: Dependence or Bifurcation?136
 Religion and Individual Investing Behavior138
 Discussion Questions147
 About the Authors151
ch. 9 Money and Happiness: Implications for Investor Behavior / Jing Jian Xiao153
 Can Money Buy Happiness?154
 Can Happiness Buy Money?162
 Implications for Investor Behavior164
 Discussion Questions165
 About the Author169
ch. 10 Motivation and Satisfaction / Lewis J. Altlest171
 Classical Economic Motivation171
 Behavioral Economic Motivation173
 Maslow's Hierarchy of Needs175
 Criticism of Maslow's Hierarchy of Needs177
 Higher Level Motivation179
 Maslow and Investment Management182
 Personal Finance Integration183
 Discussion Questions186
 About the Author188
pt. Three Financial Planning Concepts 
ch. 11 Policy-Based Financial Planning: Decision Rides for a Changing World / Elissa Bule191
 Managing Behavioral Biases in the Financial Planning Engagement194
 A Process for Developing Financial Planning Policies195
 Applicability of Financial Planning Policies199
 Policy-Based Financial Planning: The Strategic Perspective201
 Example of Policies Derived through Stochastic Modeling202
 Sample Case Applications203
 Discussion Questions206
 About the Authors207
ch. 12 Financial Counseling and Coaching / Kristy L. Archuleta209
 Financial Counseling: A Historical Perspective210
 Theoretical Approaches: A Financial Counseling Perspective215
 Financial Counseling in the Twenty-First Century221
 Discussion Questions224
 About the Authors226
ch. 13 Financial Therapy: De-Biasing and Client Behaviors / Jerry E. Gale227
 What Is Financial Therapy?229
 Brief History of Financial Therapy231
 Theoretical Foundations for Financial Therapy232
 The Practice of Financial Therapy237
 Future Research and Practice240
 Discussion Questions241
 About the Authors243
ch. 14 Transpersonal Economics / Renee M. Snow245
 Historical and Spiritual Overview of Money248
 The Western Eco/House252
 An Alternative Perspective254
 The Open Eco in Financial Planning256
 Discussion Questions261
 About the Author264
ch. 15 Advising the Behavioral Investor: Lessons from the Real World / Gregg S. Fisher285
 Risk, Return, and the Investor: A Complex Relationship266
 Investments with People Problems269
 The Impact of Investor Behavior on Portfolios272
 How Advisors Can Help the Behavioral Investor275
 Turning Bias into Benefit: How to Profit from Investor Behavior278
 Discussion Questions281
 About the Author283
ch. 16 Retirement Planning: Contributions from the Field of Behavioral Finance and Economics / Rassoul Yazdlpour285
 A Life Cycle Financial Planning and Wealth Management Model286
 Demographic and Macroeconomic Context287
 Biases, Heuristics, and Framing Effects on Retirement Planning288
 Hyperbolic Discounting291
 The Role of the Brain in Financial Decision-Making293
 Financial Decision-Making Quality and Age295
 The Role of Self-Awareness and Self-Control296
 Trust and Retirement Saving and Planning: The Basics297
 Trust and Retirement Saving and Planning: The Decision298
 Trust-Based Implications for Retirement Saving and Planning299
 Discussion Questions302
 About the Authors305
ch. 17 Knowing Your Numbers: A Scorecard Approach to Improved Medical and Financial Outcomes / Stephanie Gati307
 The Need for Better Control of Chronic Diseases309
 The Scorecard Approach310
 Target Population and Advantages311
 Content of the Take Care Scorecard311
 Considerations for Health and Financial Literacy Scorecards313
 Implications for Financial Literacy318
 Discussion Questions320
 About the Authors324
pt. Four Investor Psychology 
ch. 18 Risk Perception and Risk Tolerance / Douglas Rice827
 Risk Perception328
 The Relationship between Risk Perception and Risk Tolerance329
 An Overview of Risk Tolerance329
 Measurement of Risk Tolerance332
 The Role of Emotion in Risk Perception and Risk Tolerance334
 Risk-Taking Behavior: The Influence of Market Moods, Business Cycles, and Economic Shocks336
 Unresolved Issues in the Risk Domain340
 Discussion Questions342
 About the Authors345
ch. 19 Emotions In the Financial Markets / Richard Fairchild347
 Behavioral Finance and Prospect Theory348
 Emotions in the Financial Markets351
 Emotional Finance and Unconscious Emotions353
 Emotional Corporate Finance---A Formal Model356
 Discussion Questions361
 About the Author364
ch. 20 Human Psychology and Market Seasonality / Lisa A. Kramer365
 Moods, Emotions, and Sentiment366
 Weather, Mood, and Markets366
 Daylight, Mood, and Markets367
 Daylight Saving Time Changes, Mood, and Markets373
 Elation, Deflation, and Markets374
 Discussion Questions377
 About the Author380
ch. 21 Neurofinance / Richard L. Peterson381
 Neuroscience Primer382
 Research Methods385
 The Neuroscience of Financial Decision-Making387
 The Implications of Neurofinance Research for Practitioners395
 Discussion Questions398
 About the Author401
ch. 22 Diversification and Asset Allecation Puzzles / Dimitris Georgarakos403
 Household Stock Market Participation404
 Changes in Household Portfolios across Time407
 Differences in Household Portfolios across Countries408
 Portfolio Diversification410
 Household Stock Trading Behavior412
 Discussion Questions416
 About the Author420
ch. 23 Behavioral Pertfolio Theory and Investment Management / Emanuela Trifan421
 Prospect Theory and Expected Utility Theory421
 Safety-First Portfolio Theory426
 SP/A Theory427
 Behavioral Portfolio Theory430
 Behavioral Asset Pricing Model432
 The BAPM, CAPM, and Three-Factor Model432
 Discussion Questions435
 About the Authors438
ch. 24 Post-Crisis Investor Behavior: Experience Matters / Joseph V. Rizzi439
 Behavioral Finance Framework440
 History Dependent Risk Tolerance: The Collective Memory Hypothesis446
 Discussion Questions453
 About the Author455
pt. Five Trading and Investing Psychology and Strategies 
ch. 25 The Psychology of Trading and Investing / Thomas Oberlechner459
 Personality Variables461
 Affect and Cognition463
 News, Rumors, and Market Mood470
 Discussion Questions471
 About the Authors476
ch. 26 The Surprising Real World of Traders' Psychology / Andrew Menaker477
 What Science Reveals about How People Think478
 I Need to Be a Hero Again485
 The Heart of a Quant487
 Discussion Questions490
 About the Authors493
ch. 27 Trading and Investment Strategies in Behavioral Finance / John M. Longo495
 Distinction between Trading and Investment Strategies496
 Active versus Passive Investment Strategies and Behavioral Finance496
 Average Investors Suffer from Behavioral Biases498
 Problems with Traditional Investment Strategies499
 Short-Term Behaviorally Based Trading Strategies503
 Long-Term Behaviorally Based Investment Strategies508
 Current and Future Trends in Behavioral Finance Strategies509
 Discussion Questions511
 About the Author512
pt. Six Special Investment Topics 
ch. 28 Ethical and Socially Responsible Investing / Julia M. Puaschunder515
 Socially Responsible Investment515
 Historical Emergence517
 International Differences520
 Institutional Harmonization of FSR523
 SRI in the Post 2008-2009 World Financial Crisis Era of Globalization524
 Discussion Questions527
 About the Author532
ch. 29 Mutual Funds and Individual Investors: Advertising and Behavioral Issues / John A. Haslem533
 Advertising and Performance534
 Advertising, Expenses, and Flows535
 Advertising, Emotions, and Choice536
 Behavioral Persuasion In Advertising and Choice539
 Education, Financial Knowledge, and Choice540
 Emotions, Behavior, and Choice542
 Emotions, Behavioral Finance, and Choice543
 Financial Literacy and Active Management544
 Price and Performance Sensitivity and Repricing546
 Sentiment Contrarian Behavior and Actual Performance548
 Discussion Questions552
 About the Author553
ch. 30 Real Estate Investment Decision-Making in Behavioral Finance / Hilla Sktha555
 The Real Estate Market and the General Economy556
 Real Estate Market and Financial Market556
 Inefficiencies and the Real Estate Markets557
 Observed Inefficiencies in Real Estate Markets563
 Discussion Questions569
 About the Authors572
 Answers to the Discussion Questions573
Online access available from:
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Description 1 online resource
Series Kolb series
Contents Part one. Foundations of investor behavior -- part two. Personal finance issues -- part three. Financial planning concepts -- part four. Investor psychology -- part five. Trading and investing psychology and strategies -- part six. Special investment topics
Summary Investor Behavior provides readers with a comprehensive understanding and the latest research in the area of behavioral finance and investor decision making. Blending contributions from noted academics and experienced practitioners, this 30-chapter book will provide investment professionals with insights on how to understand and manage client behavior; a framework for interpreting financial market activity; and an in-depth understanding of this important new field of investment research. The book should also be of interest to academics, investors, and students. The book will co
Notes Includes index
Bibliography Includes bibliographical references and index
Notes Print version record and CIP data provided by publisher
Subject Investments -- Psychological aspects
Finance -- Psychological aspects
Finance -- Psychological aspects.
Investments -- Psychological aspects.
Form Electronic book
Author Ricciardi, Victor.
LC no. 2013029532
ISBN 9781118727010