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Behavioral Finance: An Introduction

Guido Baltussen

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE)

January 13, 2009

This survey introduces and reviews the field of behavioral finance. It outlines the traditional finance approach, which builds upon rational acting investors, its assumptions, and its shortcomings. Moreover, it surveys the main findings from psychology and sociology that contrast with this traditional finance approach, and it provides examples of situations and studies that reveal the relevance of these findings for financial markets and its participants.

Number of Pages in PDF File: 43

Keywords: behavioral finance, investor psychology, investor behavior, financial markets, market efficiency, individual decision making

JEL Classification: A12, G00, G10, G11, G12, G14

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Date posted: October 18, 2009 ; Last revised: December 16, 2011

Suggested Citation

Baltussen, Guido, Behavioral Finance: An Introduction (January 13, 2009). Available at SSRN: http://ssrn.com/abstract=1488110 or http://dx.doi.org/10.2139/ssrn.1488110

Contact Information

Guido Baltussen (Contact Author)
Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) ( email )
P.O. Box 1738
3000 DR Rotterdam, NL 3062 PA
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