7. Behavioral Finance: The Role of Psychology

Financial Markets (ECON 252) behavioral finance is a relatively new revolution for the financing, the results of all the social sciences apply to finances. New decision model-building to integrate psychology and sociology, among other disciplines, the major economic and financial needs to explain the price fluctuations as irregular. Models of psychological work, such as overconfidence and perceived kinks in the value of the financial decisions seem to impact, but are not included in the classicalTheories like the theory of expected utility. Kahneman and Tversky Prospect Theory addresses these questions and sheds light on irrational departures from the traditional decision-making models. Training materials are complete in Open Yale Courses Web site: open.yale.edu This course has been taken in the spring of 2008.

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