BEHAVIORAL FINANCE: A NOVEL APPROACH

Itzhak Venezia is a Professor of Finance at the Academic College of Tel Aviv-Yaffo, the Chairman of the MBA program and of the Finance Area for the MBA studies. He holds the Sanger Chair of Banking and Risk Management (emeritus) at the Hebrew University, Jerusalem, Israel where he taught prior to assuming his current position. Professor Venezia is the editor in chief of the Lecture Notes Series in Finance, and the editor of the books: Behavioral Finance: Where do Investors Biases Come From? And of Behavioral Finance: The Coming of Age. He also authored the book Lecture Notes in Behavioral Finance. Itzhak has published numerous papers in leading journals such as the Journal of Finance, Journal of Economic Theory, Journal of Banking and Finance, Management Science, and is the joint editor of the book: Bridging the GAAP: Recent Advances in Accounting and Finance. He taught as a visiting professor at Yale University, The University of California, Los Angeles, Rutgers University, and Northwestern University. Professor Venezia's research currently concentrates on Behavioral Finance, where he contributes profoundly to the better understanding of the disposition effect, herding, the differences in biases between amateurs and professionals, and other issues. Itzhak holds a PhD from the University of California, Berkeley.

• Behavioral Aspects of Policy Making:Do Prediction Markets Forecast the Polls or the Results? (Rachel Calipha and Itzhak Venezia); Influential CEO and Board Behavior in Reaction to a Regulatory Reform: A Quasi-Natural Experiment (Brian McTier and Shlomith D Zuta); Aiming for the Real Estate Market but Hitting the Stock Market — An Event Study Analysis of Israeli Mortgage Reforms (Yaron Lahav, Sara Arbel and Aliza Mizrahi); What You See Is What You Get But Do Investors Reward Good Corporate Governance When They See It? (Alberto Plazzi, Walter Torous and Umit Yilmaz); Are Courts Biased? The Anchoring Heuristic and Judicial Decisions in Personal Bankruptcy Proceedings (Yevgeny Mugerman, Neta Nadiv and Moran Ofir); Investor Behavior and Methodological Novelties:Psychological Aspects of Stock Price Drifts Following Analyst Recommendation Revisions (Andrey Kudryavtsev ); The Critical Impact of Firms' Market Value on Investor Behavior Following Pharmaceutical IPOs (Smadar Siev and Tiran Rothman); Behavioral Characteristics of IPO Underpricing (Allen Michel, Jacob Oded and Israel Shaked); Influence of Religion and Social Attitudes in Stock Market Participation (Yang Zhou, Jinwen Yu and Zhiping Zhou); Professional and Non-Professional Investment Beliefs and Risk-Taking (Magnus Jansson, Sven Hemlin, Doron Sonsino and Carl-Christian Trönnberg); Boys Don't Cry? The Emotional Effects of Poor Financial Savings Decisions Among Males and Females (Erez Yaakobi and Ido Kallir); Separating Accuracy From Forecast Certainty: A Modified Miscalibration Measure (Doron Sonsino, Yaron Lahav and Amir Levkowitz); Optimal Contracts Under Intra-Shareholder Conflict (Bharat Sarath); New Directions for Pensions and Retirement Decisions:Preferences for Annuities in Israel and their Psychological Determinants (Omer Selivansky, David Leiser and Avia Spivak); Smokers' Life Expectancy and Annuitization Decision (Abigail Hurwitz and Orly Sade);