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home » scholarly works » edition 8 8. Investor Psychology and Behavioural Finance Behavioral finance is a relatively new branch of economics that has recently become a ‘hot topic’ for investment professionals. It relaxes the assumptions held under traditional finance by incorporating observable and systematic departures from rationality into models of market and investor behavior. Since the field is so new, many professionals responsible for large portfolios have not been exposed to the principles of behavioral finance. Hence, this edition of Scholarly Works is an attempt to fill that gap. Our Picks Baker, Kent H. & Nofsinger, John R. (2002). Psychological biases of investors. Financial Services Review, 11, 97-116. Lo, Andrew W. (2005). Reconciling efficient markets with behavioral finance: The adaptive markets hypothesis. The Journal of Investment Consulting, 7(2), 21-44. Hirshleifer, David & Shumway, Tyler. (2003). Good day sunshine: Stock returns and the weather. The Journal of Finance, 3, 1009-1032.
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