Financial Behavior: Players, Services, Products, and Markets provides a synthesis of the theoretical and empirical literature on the financial behavior of major stakeholders, financial services, investment products, and financial markets. The book offers a different way of looking at financial and emotional well-being and processing beliefs, emotions, and behaviors related to money. The book provides important insights about cognitive and emotional biases that influence various financial decision-makers, services, products, and markets. With diverse concepts and topics, the book brings together noted scholars and practitioners so readers can gain an in-depth understanding about this topic from experts from around the world.
In today's financial setting, the discipline of behavioral finance is an ever-changing area that continues to evolve at a rapid pace. This book takes readers through the core topics and issues as well as the latest trends, cutting-edge research developments, and real-world situations. Additionally, discussion of research on various cognitive and emotional issues is covered throughout the book. Thus, this volume covers a breadth of content from theoretical to practical, while attempting to offer a useful balance of detailed and user-friendly coverage. Those interested in a broad survey will benefit as will those searching for more in-depth presentations of specific areas within this field of study. As the seventh book in the Financial Markets and Investment Series, Financial Behavior: Players, Services, Products, and Markets offers a fresh looks at the fascinating area of financial behavior.
Industry Reviews
"Financial Behavior is a rich resource for professionals who are devoted to the financial well-being of wealthy individuals and recognize that understanding one s clients consists of more than knowing their risk tolerances and return expectations." -- Financial Analysts Journal
"It is arguably one of the most comprehensive presentations on the way the new paradigm of behavioral finance impacts the financial landscape and the microeconomics of agency. The text is unusual in both the extensive ground it covers and its potential readership. Essential." -- CHOICE
"This collection is now the definitive work on behavioral finance. It examines market behavior, the psychological influences on CEOs, institutional investors, traders, advisors, and their high net worth clients that create patterns in asset prices, including the crucial angle of practical applications. This is a wonderful text."
-- Richard L. Peterson, M.D., CEO of the MarketPsych Group and author of Inside the Investor's Brain
"For those who want an extension of the usual behavioral finance heuristics, Baker, Filbeck and Ricciardi expand their treatment of cognitive and emotional biases to a wide variety of tangential areas. Readers will find fascinating applications to areas as diverse as financial psychopaths and bounded rationality. This book should be of interest to financial analysts and advisors, portfolio managers, and anyone else with a strong interest in behavioral finance.
Highly recommended."
-- Gary Antonacci, author of Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk
"This new book has broad-based appeal as it is an invaluable behavioral finance resource to have on your bookshelf whether you are a financial planning practitioner, investment professional, individual investor or in academia as an instructor or student. Baker, Filbeck and Ricciardi have provided a de facto must-read for anyone who is interested in better understanding human behavior and its resultant impact on financial planning and investing."
-- Paul Bennett, PhD, CFP®, author of The Money Navigator: The Essential Guide to Living Your Ideal Financial Life
"Those of us in the business of investing on behalf of clients are acutely aware of the way in which behavior and sentiment cloud investors' decision-making. Financial Behavior provides a fine overview of the latest research and thinking from the evolving field of behavioral finance, with great value for audiences ranging from students and academics to investors and financial professionals."
-- Gregg S. Fisher, CFA, CFP®, Founder & Head of Quantitative Research and Portfolio Strategy
"Kent Baker, Greg Filbeck and Victor Ricciardi perform an excellent service in this collection of articles that add to our knowledge of the effects of cognition and emotion on the financial choices we all make. Financial academics and practitioners would benefits greatly from reading this book."
-- Meir Statman, Glenn Klimek Professor of Finance, Leavey School of Business, Santa Clara University and author of Finance for Normal People
"The introduction by the editors says that behavioral finance studies the psychological influences of the decision-making process for individuals, groups, organizations and markets. It seeks to explain not just individual investment behavior, but market inefficiencies, stock market anomalies, and other occurrences that contradict the assumptions of traditional finance. Among the latter are that people act rationally, make unbiased judgments, and maximize their
self-interest - the rational underpinnings of the efficient market hypothesis." - Katherine Heires, Contributor, GARP Risk Intelligence
