Behavioral Analyses of Crises

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F14%3A00079220" target="_blank" >RIV/00216224:14560/14:00079220 - isvavai.cz</a>

Result on the web

<a href="http://www.ekf.vsb.cz/rmfr/cs/sbornik/" target="_blank" >http://www.ekf.vsb.cz/rmfr/cs/sbornik/</a>

DOI - Digital Object Identifier

—

Result language

angličtina

Original language name

Behavioral Analyses of Crises

Original language description

Present study analyzes origins of the crises from the behavioral finance point of view, which offers an alternative way to neoclassical paradigms of economy. The origins of the crises were analyzed for the presence of psychological influence, including emotion, cognition and aspiration. Of the behavioral biases proofed, many were present at the beginning of the bubble. However the most significant influences were shown to have been overconfidence, over-optimism, underestimation of risk and herding. Thestudy shows that behavioral biases were present at the market during the origin of the crises and this may have caused serious discrepancies from the market equilibrium. The article reveals that findings of behavioral finance may help to avoid disturbingthe stability of financial markets.

Czech name

—

Czech description

—

Type

D - Article in proceedings

CEP classification

AE - Management, administration and clerical work

OECD FORD branch

—

Project

—

Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2014

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

ŘÍZENÍ A MODELOVÁNÍ FINANČNÍCH RIZIK

ISBN

9788024836317

ISSN

—

e-ISSN

—

Number of pages

8

Pages from-to

299-306

Publisher name

VŠB-technical university

Place of publication

Ostrava

Event location

Ostrava

Event date

Jan 1, 2014

Type of event by nationality

EUR - Evropská akce

UT code for WoS article

—