心理学风险和投资.pptVIP

Psychology, Risk and InvestmentDaniel Kahneman, PhDPrinceton University 第一页，共二十九页。 The standard theory The rational agent of economic theory: has consistent opinions and beliefs uses all available information unbiased by emotion, ‘herd’ effects has coherent preferences tangible motives (wealth, security) unaffected by ‘framing’ of problems 第二页，共二十九页。 Behavioral FinanceInputs from psychologyCognitive errorsEmotional factorsOur agenda todayBold forecasts -- errors in judging the odds Narrow framing of decisionsLoss aversion -- errors in valuing risksFocus o