Essays on behavioral finance

G. Neszveda

Research output: ThesisDoctoral ThesisScientific

13 Downloads (Pure)

Abstract

Despite the fact that almost everyone faces risk in their lives and it is a crucial ingredient in economic models including asset pricing models, it is still an open debate how decision-makers or even investors evaluate risk. Experimental and empirical evidence shows that the standard expected utility theory falls short of explaining many economic and asset pricing phenomena. Behavioral finance provides alternative conceptual frameworks to explain these phenomena. This dissertation consists of 3 chapters investigating the impacts of some of the conceptual frameworks in behavioral finance. Chapter 1 investigates the potential impact of the expected utility theory with an aspiration level on stock returns. Chapter 2 investigates the impact of the law of small numbers on stock returns. Chapter 3 investigates the relation between time discounting and risk taking in an experiment.
Original languageEnglish
QualificationDoctor of Philosophy
Awarding Institution
  • Tilburg University
Supervisors/Advisors
  • Melenberg, Bertrand, Promotor
  • Frehen, Rik, Co-promotor
Award date9 Oct 2019
Place of PublicationTilburg
Publisher
Print ISBNs978 90 5668 606 2
Publication statusPublished - 2019

Fingerprint

Behavioral finance
Conceptual framework
Stock returns
Expected utility theory
Discounting
Decision maker
Investors
Asset pricing models
Asset pricing
Empirical evidence
Economics
Aspiration Level
Experiment
Risk taking

Cite this

Neszveda, G. (2019). Essays on behavioral finance. Tilburg: CentER, Center for Economic Research.
Neszveda, G.. / Essays on behavioral finance. Tilburg : CentER, Center for Economic Research, 2019. 186 p.
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Neszveda, G 2019, 'Essays on behavioral finance', Doctor of Philosophy, Tilburg University, Tilburg.

Essays on behavioral finance. / Neszveda, G.

Tilburg : CentER, Center for Economic Research, 2019. 186 p.

Research output: ThesisDoctoral ThesisScientific

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Neszveda G. Essays on behavioral finance. Tilburg: CentER, Center for Economic Research, 2019. 186 p. (CentER Dissertation Series).