Shefrin - Behavioral & Neoclassical asset pricing theories - 2008
Shefrin - Behavioral & Neoclassical asset pricing theories - 2008
Shefrin - Behavioral & Neoclassical asset pricing theories - 2008
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Prospect Theory<br />
Prospect theory has provided an<br />
important focal point for identifying<br />
where expected utility theory fails as a<br />
descriptive framework.<br />
Unfortunately, prospect theory itself has<br />
very severe weaknesses.<br />
<strong>Shefrin</strong>-Statman (1985)<br />
Hens-Vlcek (2006)<br />
Barberis-Xiong (forthcoming)<br />
De Georgi, Hens, Rieger (<strong>2008</strong>)<br />
Copyright Hersh <strong>Shefrin</strong> <strong>2008</strong><br />
51