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Advances in Behavioral Finance, Volume II
Edited by Richard H. Thaler

Book Description | Reviews
Chapter 1 [in PDF format]


Preface xi
Richard H. Thaler
Acknowledgments xix
List of Abbreviations xxiii
Chapter 1: A Survey of Behavioral Finance by Nicholas Barberis and Richard H. Thaler 1

Part I: Limits to Arbitrage

Chapter 2: The Limits of Arbitrage by Andrei Shleifer and Robert W. Vishny 79
Chapter 3: How Are Stock Prices Affected by the Location of Trade? by Kenneth A. Froot and Emil M. Dabora 102 Chapter 4: Can the Market Add and Subtract? Mispricing in Tech Stock Carve-outs by Owen A. Lamont and Richard H. Thaler 130

Part II: I Stock Returns and the Equity Premium

Chapter 5: Valuation Ratios and the Long-run Stock Market Outlook: An Update by John Y. Campbell and Robert J. Shiller 173
Chapter 6: Myopic Loss Aversion and the Equity Premium Puzzle by Shlomo Benartzi and Richard H. Thaler 202 Chapter 7: Prospect Theory and Asset Prices by Nicholas Barberis, Ming Huang, and Tano Santos 224

Part III: Empirical Studies of Overreaction and Underreaction

Chapter 8: Contrarian Investment, Extrapolation, and Risk by Josef Lakonishok, Andrei Shleifer, and Robert W. Vishny 273
Chapter 9: Evidence on the Characteristics of Cross-sectional Variation in Stock Returns by Kent Daniel and Sheridan Titman 317
Chapter 10: Momentum by Narasimhan Jegadeesh and Sheridan Titman 353
Chapter 11: Market Efficiency and Biases in Brokerage Recommendations by Roni Michaely and Kent L. Womack 389

Part IV: Theories of Overreaction and Underreaction

Chapter 12: A Model of Investor Sentiment by Nicholas Barberis, Andrei Shleifer, and Robert W. Vishny 423
Chapter 13: Investor Psychology and Security Market Under- and Overreaction by Kent Daniel, David Hirshleifer, and Avanidhar Subrahmanyam 460
Chapter 14: A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets by Harrison Hong and Jeremy C. Stein 502

Part V: Investor Behavior

Chapter 15: Individual Investors by Brad M. Barber and Terrance Odean 543
Chapter 16: Naive Diversification Strategies in Defined Contribution Savings Plans by Shlomo Benartzi and Richard H. Thaler 570

Part VI: Corporate Finance

Chapter 17: Rational Capital Budgeting in an Irrational World by Jeremy C. Stein 605
Chapter 18: Earnings Management to Exceed Thresholds by François Degeorge, Jayendu Patel, and Richard Zeckhauser 633
Chapter 19: Managerial Optimism and Corporate Finance by J. B. Heaton 667

List of Contributors 685
Index 695

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File created: 11/11/2014

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