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Do Asset Market Prices Reflect Traders' Judgment Biases?
16 references·16 citing·30 second hopsampled
Do Asset Market Prices Reflect Traders' Judgment Biases? (2000)Do Asset Market Prices Reflect Traders' J…Individual Decision Making (2020)Individual Decision MakingA model of investor sentiment1We are grateful to the NSF for financial support, and to Oliver Blanchard, Alon Brav, John Campbell (a referee), John Cochrane, Edward Glaeser, J.B. Heaton, Danny Kahneman, David Laibson, Owen Lamont, Drazen Prelec, Jay Ritter (a referee), Ken Singleton, Dick Thaler, an anonymous referee, and the editor, Bill Schwert, for comments.1 (1998)A model of investor sentiment…The base rate fallacy reconsidered: Descriptive, normative, and methodological challenges (1996)The base rate fallacy reconsi…The psychology of judgment and decision making (1994)The psychology of judgment an…Measuring abnormal performance (1992)Measuring abnormal performanceProspect theory: An analysis of decision under risk (1988)Prospect theory: An analysis …Does the Stock Market Overreact? (1985)Does the Stock Market Overrea…Judgment Under Uncertainty: Heuristics and Biases. (1984)Judgment Under Uncertainty: H…RISK PERCEPTION IN PSYCHOLOGY AND ECONOMICS (1982)RISK PERCEPTION IN PSYCHOLOGY…Can human irrationality be experimentally demonstrated? (1981)Can human irrationality be ex…The base-rate fallacy in probability judgments (1980)The base-rate fallacy in prob…Bayes Rule as a Descriptive Model: The Representativeness Heuristic (1980)Bayes Rule as a Descriptive M…Prospect Theory: An Analysis of Decision under Risk (1979)Prospect Theory: An Analysis …Judgment under Uncertainty: Heuristics and Biases (1975)Judgment under Uncertainty: H…On the psychology of prediction. (1973)On the psychology of predicti…A model of investor sentiment /A model of investor sentiment…Do Effort Differences between Bonus and Penalty Contracts Persist in Labor Markets? (2019)Do Effort Differences between…Choice with Limited Capacity (2019)Choice with Limited CapacityErrors in Probabilistic Reasoning and Judgment Biases (2018)Errors in Probabilistic Reaso…Consistent Bayesians Are No More Accurate Than Non-Bayesians: Economists Surveyed About PSA (2016)Consistent Bayesians Are No M…The Neural Basis of Belief Updating and Rational Decision Making (2012)The Neural Basis of Belief Up…Irrationality and beliefs in a laboratory asset market: Is it me or is it you? (2012)Irrationality and beliefs in …Does Consistency Predict Accuracy of Beliefs?: Economists Surveyed About PSA (2010)Does Consistency Predict Accu…Partition-Dependent Framing Effects in Lab and Field Prediction Markets (2008)Partition-Dependent Framing E…Refusing to budge: a confirmatory bias in decision making? (2007)Refusing to budge: a confirma…The Impact of Insurance Prices on Decision-Making Biases: An Experimental Analysis (2006)The Impact of Insurance Price…The Impact of Compensation Level and Context on Income Reporting Behavior in the Laboratory (2006)The Impact of Compensation Le…Individual and Group Decision Making Under Risk: An Experimental Study of Bayesian Updating and Violations of First-Order Stochastic Dominance (2006)Individual and Group Decision…Further critique of GARCH/ARMA/VAR/EVT Stochastic-Volatility models and related approaches (2006)Further critique of GARCH/ARM…What’s Causing Overreaction? An Experimental Investigation of Recency and the Hot‐hand Effect (2004)What’s Causing Overreaction? …The Impact of Insurance Prices on Decision Making Biases: An Experimental Analysis (2003)The Impact of Insurance Price…Efficiency in Auctions with Private and Common Values: An Experimental Study (2002)Efficiency in Auctions with P…Subjective probability: A judgment of representativeness (1972)Availability: A heuristic for judging frequency and probability (1973)Advances in prospect theory: Cumulative representation of uncertainty (1992)Belief in the law of small numbers. (1971)Telling more than we can know: Verbal reports on mental processes. (1977)ASPECTS OF THE THEORY OF SYNTAX (1964)Judgment under Uncertainty: Heuristics and Biases (1974)The Framing of Decisions and the Psychology of Choice (1981)The role of theories in conceptual coherence. (1985)Norm theory: Comparing reality to its alternatives. (1986)On the reality of cognitive illusions. (1996)Risk, Ambiguity, and the Savage Axioms (1961)Exploration and Exploitation in Organizational Learning (1991)Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance (2007)Theory of games and economic behavior (2019)The General Theory of Employment, Interest and Money, by John Maynard Keynes (1936)The General Theory of Employment, Interest and Money. (1936)Multifactor Explanations of Asset Pricing Anomalies (1996)The Cross-Section of Expected Stock Returns (1992)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets (1999)Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies (2000)Integración de los mercados financieros Latinoamericanos por medio de MILA (2020)The emerging conceptualization of groups as information processors. (1997)System Dynamics: Systems Thinking and Modeling for a Complex World (2002)The Adaptive Markets Hypothesis (2004)Those Who Understand: Knowledge Growth in Teaching (1986)The weirdest people in the world? (2010)Investor Psychology and Security Market Under‐ and Overreactions (1998)In Search of Attention (2011)
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References

  • 1979Prospect Theory: An Analysis of Decision under Risk48,459 cited
  • 1988Prospect theory: An analysis of decision under risk32,475 cited
  • 1975Judgment under Uncertainty: Heuristics and Biases22,647 cited
  • 1985Does the Stock Market Overreact?7,569 cited
  • 1973On the psychology of prediction.6,201 cited
  • 1984Judgment Under Uncertainty: Heuristics and Biases.5,656 cited
  • n.d.A model of investor sentiment /4,073 cited
  • 1998A model of investor sentiment1We are grateful to the NSF for financial support, and to Oliver Blanchard, Alon Brav, John Campbell (a referee), John Cochrane, Edward Glaeser, J.B. Heaton, Danny Kahneman, David Laibson, Owen Lamont, Drazen Prelec, Jay Ritter (a referee), Ken Singleton, Dick Thaler, an anonymous referee, and the editor, Bill Schwert, for comments.12,865 cited
  • 1994The psychology of judgment and decision making1,253 cited
  • 1981Can human irrationality be experimentally demonstrated?1,224 cited
  • 1980The base-rate fallacy in probability judgments1,184 cited
  • 2020Individual Decision Making991 cited
  • 1992Measuring abnormal performance840 cited
  • 1980Bayes Rule as a Descriptive Model: The Representativeness Heuristic821 cited
  • 1996The base rate fallacy reconsidered: Descriptive, normative, and methodological challenges

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763 cited
  • 1982RISK PERCEPTION IN PSYCHOLOGY AND ECONOMICS544 cited
  • Cited by

    • 2002Efficiency in Auctions with Private and Common Values: An Experimental Study131 cited
    • 2004What’s Causing Overreaction? An Experimental Investigation of Recency and the Hot‐hand Effect62 cited
    • 2006Further critique of GARCH/ARMA/VAR/EVT Stochastic-Volatility models and related approaches47 cited
    • 2006Individual and Group Decision Making Under Risk: An Experimental Study of Bayesian Updating and Violations of First-Order Stochastic Dominance28 cited
    • 2003The Impact of Insurance Prices on Decision Making Biases: An Experimental Analysis26 cited
    • 2019Do Effort Differences between Bonus and Penalty Contracts Persist in Labor Markets?22 cited
    • 2007Refusing to budge: a confirmatory bias in decision making?20 cited
    • 2016Consistent Bayesians Are No More Accurate Than Non-Bayesians: Economists Surveyed About PSA15 cited
    • 2006The Impact of Compensation Level and Context on Income Reporting Behavior in the Laboratory14 cited
    • 2008Partition-Dependent Framing Effects in Lab and Field Prediction Markets14 cited
    • 2010Does Consistency Predict Accuracy of Beliefs?: Economists Surveyed About PSA12 cited
    • 2012Irrationality and beliefs in a laboratory asset market: Is it me or is it you?11 cited
    • 2018Errors in Probabilistic Reasoning and Judgment Biases9 cited
    • 2006The Impact of Insurance Prices on Decision-Making Biases: An Experimental Analysis8 cited
    • 2012The Neural Basis of Belief Updating and Rational Decision Making6 cited
    • 2019Choice with Limited Capacity1 cited