Abstract

http://ssrn.com/abstract=1998686
 
 

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Mood Effects in Optimal Debt Contracts


Nicholas Apergis


University of Piraeus

Dimitris Voliotis


University of Piraeus - Department of Banking and Financial Management

January 1, 2012


Abstract:     
The impact of strong emotions or mood on decision making and risk taking is well recognized in behavioral economics and finance. Yet, and in spite of the immense interest, no study, so far, has provided any comprehensive evidence on the impact of such emotions on financial contracts and particularly on debt contracts. This paper provides the theoretical framework to study the impact of mood on financial contracting.

Number of Pages in PDF File: 31

Keywords: mood effects, rank-dependent probabilities

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Date posted: February 5, 2012 ; Last revised: March 21, 2012

Suggested Citation

Apergis, Nicholas and Voliotis, Dimitris, Mood Effects in Optimal Debt Contracts (January 1, 2012). Available at SSRN: http://ssrn.com/abstract=1998686 or http://dx.doi.org/10.2139/ssrn.1998686

Contact Information

Nicholas Apergis
University of Piraeus ( email )
Karaoli and Dimitriou 80
80 KARAOLI & DIMITRIOU STREET
Piraeus, Attiki 18534
Greece
Dimitris Voliotis (Contact Author)
University of Piraeus - Department of Banking and Financial Management ( email )
80 Karaoli & Dimitriou Str.
18534 Piraeus, 185 34 -GR
Greece
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