Behavioural Finance Revolution

A New Approach to Financial Policies and Regulations

AvRiccardo Viale,Shabnam Mousavi

Inbunden, Engelska, 2018

Del i serien Behavioural Financial Regulation and Policy (BEFAIRLY) series

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Beskrivning

Financial markets are complex. Regulators strive to predict ways in which they can malfunction and create rules to prevent this from happening, yet behavioural impacts are often overlooked. This book explores how behavioural finance can go hand-in-hand with traditional methods to help banks and regulators create better policies. It also demonstrates how the behavioural finance revolution has opened the way to a more integrated approach to the analysis of economic phenomena. This book adopts a forward-looking agenda that takes account of existing practices based on behavioural science. It focuses on how to make financial markets an arena for fair play as a central criterion for securing and enhancing societal well being. It examines how bounded rationality, heuristic decision making, aversion to losses, endowment effects and social preferences may impact financial decisions, thus exposing the flaws in traditional forecasting methods that rely on an over-simplified representation of the individual. With contributions from both academics and practitioners, this book will be fundamental reading for researchers in the finance and behavioural economics. Regulators who wish to utilise behavioural policymaking will also find this a beneficial read.Contributors include: B. Alemanni, C. Attia, M. Bianco, G. Bracchi, E. Cervellati, C. Cruciani, G. De Felice, M. Egidi, U. Filotto, F. Franceschi, G. Gardenal, G. Gigerenzer, C. Giorgiantonio, D. Hilton, N. Linciano, A. Lojschova, D. Masciandaro, B. Mojon, P. Mottura, S. Mousavi, A. Penalver, L. Portelli, U. Rigoni, S. Rossi, Z. Rotondi, G. Sillari, A. Varaldo, R. Viale, G. Zevi

Produktinformation

Utgivningsdatum:2018-12-27
Mått:156 x 234 x undefined mm
Format:Inbunden
Språk:Engelska
Serie:Behavioural Financial Regulation and Policy (BEFAIRLY) series
Förlag:Edward Elgar Publishing Ltd
ISBN:9781788973052

Utforska kategorier

Mikroekonomi inom Ekonomi och Ledarskap
Finansiering inom Ekonomi och Ledarskap

Mer om författaren

Edited by Riccardo Viale, Herbert Simon Society, BIB-Behavioral Insights Bicocca of University of Milan Bicocca and School of Government, LUISS, Rome, Italy, the late Shabnam Mousavi, formerly Center for Artificial Intelligence (CENTAI), Turin, Italy, Barbara Alemanni, University of Genoa and Umberto Filotto, University of Rome “Tor Vergata”, Italy

Recensioner i media

'10 years on from the global financial crisis, large gaps remain in our understanding of how to design effective financial policies and regulations, reflecting the fact that many policymakers have a limited understanding of what drives financial choices and decisions in the real world. In filling this gap, The Behavioural Finance Revolution collects together pathbreaking, insightful contributions from the perspective of real human behaviour. Key lessons from this impressively wide-ranging volume have the potential to transform financial regulation and policymaking for decades to come.'--Michelle Baddeley, University of South Australia'The collective contributions in this important volume carve out a new path for how boundedly rational policymakers can structure sensible regulations for a world dominated by boundedly rational agents.'--Hersh Shefrin, Santa Clara University, US

Innehållsförteckning

Contents:Salvatore Rossi ForewordIntroduction Barbara Alemanni, Umberto Filotto, Shabnam Mousavi, Riccardo VialePart I The Many Faces Of Finance In The Academia1. Understanding Financial Behaviour For Better Policy Making: An IntroductionRiccardo Viale2. Behavioral Policymaking With Bounded RationalityShabnam Mousavi 3. A Taxonomy Of Behavioural PoliciesBarbara Alemanni4. Do Regulators Know Better?Umberto Filotto5. Behavioral Finance And Non-Conventional Monetary PoliciesBenoit Mojon, Adrian Penalver And Adriana Lojschova 6. The Psychology Of Financial Choices: From Classical And Behavioral Finance To NeurofinanceMassimo Egidi And Giacomo Sillari7. Behavioral Re-Evolution: How Behavioral Economics Has Evolved And Is EvolvingEnrico Maria Cervellati8. Evolutionary Regulation And Financial BehaviorPaolo Mottura 9. A View On Recent Advances In Behavioural Macroeconomics And Their Lessons For The PolicymakerGiordano Zevi Part II Finance From The View Point Of Psychology, Banks, Regulators, And The Industry10. The Heuristics Revolution: Rethinking The Role Of Uncertainty In FinanceGerd Gigerenzer 11. The Psychology Of Financial Incompetence: Past, Present And FutureDenis Hilton And Caroline Attia12. Behavioral Finance: From Financial Consumer Protection To Financial EducationMagda Bianco And Francesco Franceschi 13. Behavioral Impact Of Policies For The Start-Up And Venture Capital EcosystemGiampio Bracchi 14. Investors’ Inconsistencies And The Need For Better Financial LiteracyGregorio De Felice15. How Behavioral Finance Can Reshape Financial Consumer Protection: Consob’s First Steps In The European FrameworkNadia Linciano 16. When Central Bankers Become Humans: Behavioural Economics And Monetary Policy Decisions Donato Masciandaro 17. Trust The Change? Trust And The Impact Of Policy Making: The Case Of The Introduction Of The Mifid 2 Directive In The Financial Advisory IndustryUgo Rigoni, Caterina Cruciani And Gloria Gardenal18. CMU And Role Of Institutional Investors: Investment Behavior And Governance Of Pension FundsZeno Rotondi And Cristina Giorgiantonio19. The Italian Household Wealth And Their Financial Attitude: The New Environment And A New ApproachAlessandro Varaldo And Lorenzo PortelliIndex