Abstract
It is accepted that the historical process of behavioral economics, on which the basics of behavioral finance are based, began with the study of "The Theory of Sentiments" by Adam Smith in the mid-18th century. (Asraf, Camerer and Loewenstein, 2005:132). In the 20th century, the neoclassical economy entered the era by developing models with theoretical approaches and it was revealed that man made economic decisions by exhibiting rational behaviors. While these developments have been experienced in economic science, psychological based approaches have been developed and new approaches have been put forward in behavioral sciences. The aim of this study is to examine the concept of behavioral finance, its historical development, its interaction with other disciplines and the theories of behavioral finance. The articles, books and theses written in the field were usedfor this purpose. The differences with traditional finance theories have been tried to be put forward.
References
- Akerlof, G. A. (1982). Laborcontracts as partialgiftexchange. TheQuarterlyJournal of Economics, 543-569.
- Akerlof, G. A. (1984). Giftexchangeandefficiency-wagetheory: Fourviews. TheAmericanEconomicReview, 74(2), 79-83.
- Ashraf, N.,Camerer, C. F., &Loewenstein, G. (2005). Adam Smith, behavioraleconomist. TheJournal of EconomicPerspectives, 19(3), 131-145.
- Augier, M. (2003). WilltherealHerbertSimonpleasestandup? Or, Behavioraleconomics: hopesforthepast—lessonsfromthefuture. InEasternEconomicAssociation Conference in New York City on February(Vol. 23).
- BarberisNicholas, AndreiShleifer, Robert Vishny (1998) A model of investorsentiment, Journal of Financial Economics 49, 307-343
- Barberis, N.,Huang, M., &Santos, T. (1999). Prospecttheoryandassetprices (No. w7220). Nationalbureau of economicresearch.
- Bolhuis, M.,&Goodman, N. (2005). Reading BetweentheLines of Investor Biases. Journal of Financial Planning, 18(1).
Abstract
References
- Akerlof, G. A. (1982). Laborcontracts as partialgiftexchange. TheQuarterlyJournal of Economics, 543-569.
- Akerlof, G. A. (1984). Giftexchangeandefficiency-wagetheory: Fourviews. TheAmericanEconomicReview, 74(2), 79-83.
- Ashraf, N.,Camerer, C. F., &Loewenstein, G. (2005). Adam Smith, behavioraleconomist. TheJournal of EconomicPerspectives, 19(3), 131-145.
- Augier, M. (2003). WilltherealHerbertSimonpleasestandup? Or, Behavioraleconomics: hopesforthepast—lessonsfromthefuture. InEasternEconomicAssociation Conference in New York City on February(Vol. 23).
- BarberisNicholas, AndreiShleifer, Robert Vishny (1998) A model of investorsentiment, Journal of Financial Economics 49, 307-343
- Barberis, N.,Huang, M., &Santos, T. (1999). Prospecttheoryandassetprices (No. w7220). Nationalbureau of economicresearch.
- Bolhuis, M.,&Goodman, N. (2005). Reading BetweentheLines of Investor Biases. Journal of Financial Planning, 18(1).
Details
| Primary Language | English |
|---|---|
| Journal Section | Research Article |
| Authors | |
| Publication Date | December 31, 2020 |
| Published in Issue | Year 2020 Volume: 4 Issue: 7 |
