Geleneksel ve Davranışsal Finans: Tarihsel ve Kavramsal Çerçeve

Year 2019, Volume: 2 Issue: 1, 37 - 45, 01.06.2019

Gozde Turkmen Müldür

Abstract

Davranışsal
finans, kendine ait metodolojisi ve teorisi olan, tarihsel köklerinin 1950’lere
uzandığı bilinen ve insan psikolojisinin finansal karar alma sürecine etkisi
üzerine araştırmalar yapan bir alandır. Davranışsal finans, karar verici
pozisyonundaki kişilerin yalnızca belli bir noktaya kadar rasyonel olabileceği
görüşü ile teorilerini geliştirmiş ve bireylerin sadece kar güdüsü ile hareket
etmeyip başka güdüler ile de karar alabilecekleri noktasında geleneksel finans
teorilerinden ayrılmıştır. Bu çalışma ile davranışsal ve bilişsel psikoloji ile
finans bilimlerini bir araya getiren davranışsal finansın, hangi alanlarda
rasyonelliği savunan klasik finans teorilerinden farklılaştığını finansal
aktörleri etkileyen faktörler ekseninde açıklanmaya çalışılacaktır.

Keywords

Davranışsal finans, geleneksel finans, homo economikus, yatırımcı duyarlılığı

Traditional vs. Behavioral Finance: A Historical and Conceptual Framework

Abstract

Behavioral finance is a fully developed
discipline that has its own theoıy base as well as methods and methodology. Its
area of research is human psychology on financial decision-making, and it is
known that its roots go back as far as the 1950s. Behavioral finance developed
theories with the view that people in decision-making positions could only be
rational up to a certain point and separated from traditional finance theories
in that individuals could not only act with a profit motive but could also make
decisions with other motives. This study is an attempt to examine the factors
affecting the financial actors in terms of where behavioral finance, which
combines behavioral and cognitive psychology and financial sciences, differs
from classical finance theories defending rationality.

Keywords

Behavioral finance, traditional finance, homo economicus, investor sentiment

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