A Fast and Frugal Finance

A Fast and Frugal Finance
Author: William P. Forbes,Aloysius Obinna Igboekwu,Shabnam Mousavi
Publsiher: Academic Press
Total Pages: 320
Release: 2019-06-15
ISBN 10: 0128124954
ISBN 13: 9780128124956
Language: EN, FR, DE, ES & NL

A Fast and Frugal Finance Book Review:

A Fast and Frugal Finance: Bridging Contemporary Behavioral Finance and Ecological Rationality adds psychological reality to classical financial reasoning. It shows how financial professionals can reach better and quicker decisions using the 'fast and frugal' framework for decision-making, adding dramatically to time and outcome efficiency, while also retaining accuracy. The book provides the reader with an adaptive toolbox of heuristic tools and classification systems to aid real-world decisions. Throughout, financial applications are presented alongside real-world examples to help readers solve established problems in finance, including stock buying and selling decisions, even in situations of considerable uncertainty and risk. The book concludes by describing potential solutions to financial problems, including discussions on high frequency trading and machine learning algorithms. Demonstrates how well-constructed 'fast and frugal' models can outperform standard models in time and outcome efficiency Focuses on how financial decisions are made in reality rather than how they should be made Discusses how cognition and the decision-making context interact in producing 'fast and frugal' choices Explores the development of decision-making trees in finance to aid in decision-making

A Fast and Frugal Finance

A Fast and Frugal Finance
Author: William P. Forbes,Aloysius Obinna Igboekwu,Shabnam Mousavi
Publsiher: Academic Press
Total Pages: 276
Release: 2019-12-02
ISBN 10: 0128124962
ISBN 13: 9780128124963
Language: EN, FR, DE, ES & NL

A Fast and Frugal Finance Book Review:

A Fast and Frugal Finance: Bridging Contemporary Behavioural Finance and Ecological Rationality adds psychological reality to classical financial reasoning. It shows how financial professionals can reach better and quicker decisions using the ‘fast and frugal’ framework for decision-making, adding dramatically to time and outcome efficiency, while also retaining accuracy. The book provides the reader with an adaptive toolbox of heuristic tools and classification systems to aid real-world decisions. Throughout, financial applications are presented alongside real-world examples to help readers solve established problems in finance, including stock buying and selling decisions, when faced with not only risk but fundamental uncertainty. The book concludes by describing potential solutions to financial problems in the forefront of contemporary debates, and calls for taking psychological insights seriously. Demonstrates how well-constructed ‘fast and frugal’ models can outperform standard models in time and outcome efficiency Focuses on how financial decisions are made in reality, using heuristics, rather than how such decisions should be made Discusses how cognition and the decision-making context interact in producing ‘fast and frugal’ choices that follow ecological rationality Explores the development of decision-making trees in finance to aid in decision-making

Fast and Frugal Decision Making

Fast and Frugal Decision Making
Author: Shabnam Mousavi
Publsiher: Palgrave Macmillan
Total Pages: 240
Release: 2021
ISBN 10: 9781137570789
ISBN 13: 1137570784
Language: EN, FR, DE, ES & NL

Fast and Frugal Decision Making Book Review:

We all want more information in order to make better decisions and calculate risk, but oftentimes that information is scarce. This new strategy, based on extensive cognitive and economic research, shows how to make financial decisions through a 'fast and frugal' method.

Investor Decision Making and the Role of the Financial Advisor

Investor Decision Making and the Role of the Financial Advisor
Author: Caterina Cruciani
Publsiher: Springer
Total Pages: 161
Release: 2017-11-13
ISBN 10: 3319682342
ISBN 13: 9783319682341
Language: EN, FR, DE, ES & NL

Investor Decision Making and the Role of the Financial Advisor Book Review:

This book looks at financial advisory from a behavioural perspective, and focuses on how the nature of the relationship between advisors and clients may affect the ability of the advisor to perform its functions. Broken into three key parts, the book looks at the client, the advisor, and the relationship between the two. Chapters review relevant theories of decision-making under risk to understand the nature of clients’ decisions. The literature on advisors’ functions and the normative landscape regulating financial advisory are also addressed. Finally, this book reviews how behavioural finance has traditionally addressed portfolio selection and explains how trust can be seen as a viable avenue to maximize advisors’ effectiveness and pursue clients’ needs. This book will be of interest to both behavioural finance scholars and practitioners interested in understanding what the future of financial advisory may have in stock.

Behavioral Finance

Behavioral Finance
Author: H. Kent Baker,John R. Nofsinger
Publsiher: John Wiley & Sons
Total Pages: 768
Release: 2010-10-01
ISBN 10: 9780470769683
ISBN 13: 0470769688
Language: EN, FR, DE, ES & NL

Behavioral Finance Book Review:

A definitive guide to the growing field of behavioral finance This reliable resource provides a comprehensive view of behavioral finance and its psychological foundations, as well as its applications to finance. Comprising contributed chapters written by distinguished authors from some of the most influential firms and universities in the world, Behavioral Finance provides a synthesis of the most essential elements of this discipline, including psychological concepts and behavioral biases, the behavioral aspects of asset pricing, asset allocation, and market prices, as well as investor behavior, corporate managerial behavior, and social influences. Uses a structured approach to put behavioral finance in perspective Relies on recent research findings to provide guidance through the maze of theories and concepts Discusses the impact of sub-optimal financial decisions on the efficiency of capital markets, personal wealth, and the performance of corporations Behavioral finance has quickly become part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.

The Global Financial Crisis and Its Aftermath

The Global Financial Crisis and Its Aftermath
Author: A.G. Malliaris,Leslie Shaw,Hersh Shefrin
Publsiher: Oxford University Press
Total Pages: 400
Release: 2016-09-06
ISBN 10: 0199386242
ISBN 13: 9780199386246
Language: EN, FR, DE, ES & NL

The Global Financial Crisis and Its Aftermath Book Review:

In The Global Financial Crisis, contributors argue that the complexity of the Global Financial Crisis challenges researchers to offer more comprehensive explanations by extending the scope and range of their traditional investigations. To achieve this, the volume views the financial crisis simultaneously through three different lenses---economic, psychological, and social values. Contributors offer a constructive methodology suitable for exploring financial crises. They recognize how current economic analysis did not prepare academic economists, business economists, traders, and regulators to anticipate economic and financial crises. So, they search more extensively within the broader discipline of economics for ideas related to crises but neglected perhaps because they were not mathematically rigorous. They affirm that the complexity of financial crises necessitates complementary research. Thus, to put the focal purpose of this book differently, they explore the Global Financial Crisis from three interconnected frameworks: the standards of orthodox economic analysis, Minskyan economics, and the role of ideas and values in economics. Values are the subject of both philosophy and psychology and can contribute to a better understanding of the Global Financial Crisis. Values, in general, have been relatively neglected by economists. This is not because there is doubt about their significance, but rather because welfare economics and collective choice still operate within the neoclassical paradigm. This volume argues that analyzing the value implications requires moving from the neoclassical framework to something that is broader and multidisciplinary.

Judgment Decision Making and Embodied Choices

Judgment  Decision Making  and Embodied Choices
Author: Markus Raab
Publsiher: Academic Press
Total Pages: 172
Release: 2020-10-27
ISBN 10: 0128235608
ISBN 13: 9780128235607
Language: EN, FR, DE, ES & NL

Judgment Decision Making and Embodied Choices Book Review:

Judgment, Decision-Making, and Embodied Choices introduces a new concept of embodied choices which take sensorimotor experiences into account when limited time and resources forces a person to make a quick decision. This book combines areas of cognitive psychology and movement science, presenting an integrative approach to understanding human functioning in everyday scenarios. This is the first book focusing on the role of the gut as a second brain, introducing the link to risky behavior. The book's author engages readers by providing real-life experiences and scenarios connecting theory to practice. Discusses the role of gut feelings and the brain-gut behavior connection Demonstrates that behavior influences decision and other people’s perceptions about mood or character Includes research on medical decisions and shopping decisions Illustrates how to train embodied choices

Behavioural Finance Second Edition

Behavioural Finance   Second Edition
Author: Prasanna Chandra
Publsiher: McGraw-Hill Education
Total Pages: 534
Release: 2020-03-04
ISBN 10: 9389811295
ISBN 13: 9789389811292
Language: EN, FR, DE, ES & NL

Behavioural Finance Second Edition Book Review:

The thoroughly revised 2nd edition of Behavioural Finance is designed as a textbook for students of MBA and CFA Programme. It will also serve a reference book for investment practitioners and corporate finance executives. The book discusses financial decision-making and financial markets from the perspective of behavioural sciences and allied disciplines. It expounds theories of behavioural finance and explores ways and means of injecting greater rationality in financial and investment decisions making. Salient Features: • An overview of Behavioural Finance • New and updated content in chapters 2-14 • A new mini case on Behavioural Biases and Asset Allocation • 16 new Appendices such as Expectations Investing Process, Left Brain, Right Stuff, and The Paradox of Choice

Frugal Isn t Cheap

Frugal Isn t Cheap
Author: Clare Levison
Publsiher: Red Wheel/Weiser
Total Pages: 256
Release: 2013-07-19
ISBN 10: 1601635338
ISBN 13: 9781601635334
Language: EN, FR, DE, ES & NL

Frugal Isn t Cheap Book Review:

In Frugal Isn’t Cheap, Clare Levison serves up practical financial advice with a side of southern charm. Filled with real-life stories, it will challenge you to change the way you think about money. Her message is deceptively simple and clear: it’s cool to be smart about your money; it’s stylish to be sensible rather than overindulgent; financial stability is more glamorous than extravagance. But cut up the credit cards? No way. Levison prefers to promote responsibility rather than abstinence. She takes a realistic approach to personal finance that we can all live with, including: How to find and nurture your frugal side Why you don’t need to cut up your credit cards The simple formula for financial success The Savings Challenge, 20% The best ways to make large purchases

Classification in the Wild

Classification in the Wild
Author: Ozgur Simsek,Konstantinos Katsikopoulos,Marcus Buckmann,Gerd Gigerenzer
Publsiher: Unknown
Total Pages: 200
Release: 2021-02-02
ISBN 10: 026204515X
ISBN 13: 9780262045155
Language: EN, FR, DE, ES & NL

Classification in the Wild Book Review:

"A "bounded rationality" approach to understanding how people classify entities in real world situations, with imperfect information and limited time"--

Handbook of Behavioural Economics and Smart Decision Making

Handbook of Behavioural Economics and Smart Decision Making
Author: Morris Altman
Publsiher: Edward Elgar Publishing
Total Pages: 616
Release: 2017-05-26
ISBN 10: 1782549595
ISBN 13: 9781782549598
Language: EN, FR, DE, ES & NL

Handbook of Behavioural Economics and Smart Decision Making Book Review:

This Handbook is a unique and original contribution of over thirty chapters on behavioural economics, examining and addressing an important stream of research where the starting assumption is that decision-makers are for the most part relatively smart or rational. This particular approach is in contrast to a theme running through much contemporary work where individuals’ behaviour is deemed irrational, biased, and error-prone, often due to how people are hardwired. In the smart people approach, where errors or biases occur and when social dilemmas arise, more often than not, improving the decision-making environment can repair these problems without hijacking or manipulating the preferences of decision-makers. This book covers a wide-range of themes from micro to macro, including various sub-disciplines within economics such as economic psychology, heuristics, fast and slow-thinking, neuroeconomics, experiments, the capabilities approach, institutional economics, methodology, nudging, ethics, and public policy.

Thinking Fast and Slow

Thinking  Fast and Slow
Author: Daniel Kahneman
Publsiher: Doubleday Canada
Total Pages: 512
Release: 2011-11-01
ISBN 10: 0385676522
ISBN 13: 9780385676526
Language: EN, FR, DE, ES & NL

Thinking Fast and Slow Book Review:

The guru to the gurus at last shares his knowledge with the rest of us. Nobel laureate Daniel Kahneman's seminal studies in behavioral psychology, behavioral economics, and happiness studies have influenced numerous other authors, including Steven Pinker and Malcolm Gladwell. In Thinking, Fast and Slow, Kahneman at last offers his own, first book for the general public. It is a lucid and enlightening summary of his life's work. It will change the way you think about thinking. Two systems drive the way we think and make choices, Kahneman explains: System One is fast, intuitive, and emotional; System Two is slower, more deliberative, and more logical. Examining how both systems function within the mind, Kahneman exposes the extraordinary capabilities as well as the biases of fast thinking and the pervasive influence of intuitive impressions on our thoughts and our choices. Engaging the reader in a lively conversation about how we think, he shows where we can trust our intuitions and how we can tap into the benefits of slow thinking, contrasting the two-system view of the mind with the standard model of the rational economic agent. Kahneman's singularly influential work has transformed cognitive psychology and launched the new fields of behavioral economics and happiness studies. In this path-breaking book, Kahneman shows how the mind works, and offers practical and enlightening insights into how choices are made in both our business and personal lives--and how we can guard against the mental glitches that often get us into trouble.

Meet the Frugalwoods

Meet the Frugalwoods
Author: Elizabeth Willard Thames
Publsiher: HarperCollins
Total Pages: 256
Release: 2018-03-06
ISBN 10: 0062668153
ISBN 13: 9780062668158
Language: EN, FR, DE, ES & NL

Meet the Frugalwoods Book Review:

The deeply personal story of how award-winning personal finance blogger Elizabeth Willard Thames abandoned a successful career in the city and embraced frugality to create a more meaningful, purpose-driven life, and retire to a homestead in the Vermont woods at age thirty-two with her husband and daughter. In 2014, Elizabeth and Nate Thames were conventional 9-5 young urban professionals. But the couple had a dream to become modern-day homesteaders in rural Vermont. Determined to retire as early as possible in order to start living each day—as opposed to wishing time away working for the weekends—they enacted a plan to save an enormous amount of money: well over seventy percent of their joint take home pay. Dubbing themselves the Frugalwoods, Elizabeth began documenting their unconventional frugality and the resulting wholesale lifestyle transformation on their eponymous blog. In less than three years, Elizabeth and Nate reached their goal. Today, they are financially independent and living out their dream on a sixty-six-acre homestead in the woods of rural Vermont with their young daughter. While frugality makes their lifestyle possible, it’s also what brings them peace and genuine happiness. They don’t stress out about impressing people with their material possessions, buying the latest gadgets, or keeping up with any Joneses. In the process, Elizabeth discovered the self-confidence and liberation that stems from disavowing our culture’s promise that we can buy our way to "the good life." Elizabeth unlocked the freedom of a life no longer beholden to the clarion call to consume ever-more products at ever-higher sums. Meet the Frugalwoods is the intriguing story of how Elizabeth and Nate realized that the mainstream path wasn’t for them, crafted a lifestyle of sustainable frugality, and reached financial independence at age thirty-two. While not everyone wants to live in the woods, or quit their jobs, many of us want to have more control over our time and money and lead more meaningful, simplified lives. Following their advice, you too can live your best life.

The Behavioural Finance Revolution

The Behavioural Finance Revolution
Author: Riccardo Viale,Shabnam Mousavi,Barbara Alemanni,Umberto Filotto
Publsiher: Edward Elgar Publishing
Total Pages: 272
Release: 2021
ISBN 10: 1788973062
ISBN 13: 9781788973069
Language: EN, FR, DE, ES & NL

The Behavioural Finance Revolution Book Review:

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.

Natural Computing in Computational Finance

Natural Computing in Computational Finance
Author: Anthony Brabazon,Michael O'Neill,Dietmar Maringer
Publsiher: Springer Science & Business Media
Total Pages: 202
Release: 2011-09-10
ISBN 10: 364223335X
ISBN 13: 9783642233357
Language: EN, FR, DE, ES & NL

Natural Computing in Computational Finance Book Review:

This book follows on from Natural Computing in Computational Finance Volumes I, II and III. As in the previous volumes of this series, the book consists of a series of chapters each of which was selected following a rigorous, peer-reviewed, selection process. The chapters illustrate the application of a range of cutting-edge natural computing and agent-based methodologies in computational finance and economics. The applications explored include option model calibration, financial trend reversal detection, enhanced indexation, algorithmic trading, corporate payout determination and agent-based modeling of liquidity costs, and trade strategy adaptation. While describing cutting edge applications, the chapters are written so that they are accessible to a wide audience. Hence, they should be of interest to academics, students and practitioners in the fields of computational finance and economics. which was selected following a rigorous, peer-reviewed, selection process. The chapters illustrate the application of a range of cutting-edge natural computing and agent-based methodologies in computational finance and economics. The applications explored include option model calibration, financial trend reversal detection, enhanced indexation, algorithmic trading, corporate payout determination and agent-based modeling of liquidity costs, and trade strategy adaptation. While describing cutting edge applications, the chapters are written so that they are accessible to a wide audience. Hence, they should be of interest to academics, students and practitioners in the fields of computational finance and economics. The applications explored include option model calibration, financial trend reversal detection, enhanced indexation, algorithmic trading, corporate payout determination and agent-based modeling of liquidity costs, and trade strategy adaptation. While describing cutting edge applications, the chapters are written so that they are accessible to a wide audience. Hence, they should be of interest to academics, students and practitioners in the fields of computational finance and economics. written so that they are accessible to a wide audience. Hence, they should be of interest to academics, students and practitioners in the fields of computational finance and economics.

Behavioural Economics and Finance

Behavioural Economics and Finance
Author: Michelle Baddeley
Publsiher: Routledge
Total Pages: 344
Release: 2018-10-17
ISBN 10: 1351813986
ISBN 13: 9781351813983
Language: EN, FR, DE, ES & NL

Behavioural Economics and Finance Book Review:

Behavioural economics and behavioural finance are rapidly expanding fields that are continually growing in prominence. While orthodox economic models are built upon restrictive and simplifying assumptions about rational choice and efficient markets, behavioural economics offers a robust alternative using insights and evidence that rest more easily with our understanding of how real people think, choose and decide. This insightful textbook introduces the key concepts from this rich, interdisciplinary approach to real-world decision-making. This new edition of Behavioural Economics and Finance is a thorough extension of the first edition, including updates to the key chapters on prospect theory; heuristics and bias; time and planning; sociality and identity; bad habits; personality, moods and emotions; behavioural macroeconomics; and well-being and happiness. It also includes a number of new chapters dedicated to the themes of incentives and motivations, behavioural public policy and emotional trading. Using pedagogical features such as chapter summaries and revision questions to enhance reader engagement, this text successfully blends economic theories with cutting-edge multidisciplinary insights. This second edition will be indispensable to anyone interested in how behavioural economics and finance can inform our understanding of consumers’ and businesses’ decisions and choices. It will appeal especially to undergraduate and graduate students but also to academic researchers, public policy-makers and anyone interested in deepening their understanding of how economics, psychology and sociology interact in driving our everyday decision-making.

Belief and Rule Compliance

Belief and Rule Compliance
Author: Hazik Mohamed,Abbas Mirakhor,Nuri Erbaş
Publsiher: Academic Press
Total Pages: 233
Release: 2018-09-20
ISBN 10: 0128138130
ISBN 13: 9780128138137
Language: EN, FR, DE, ES & NL

Belief and Rule Compliance Book Review:

Belief and Rule Compliance: An Experimental Comparison of Muslim and Non-Muslim Economic Behavior uses modern behavioral science and game theory to examine the behavior and compliance of Muslim populations to Islamic Finance laws and norms. The work identifies behaviors characterized by unexpected complexity and profound divergence, including expectations for sharing, cooperation and entrepreneurship gleaned from studies. Adopting a unique set of recent empirical observations, the work provides a reliable behavioral foundation for practitioners seeking to evaluate, create and market Islamic financial products. Covers the economic behavior of Muslims and non-Muslims Indicates when, and if, economic behavior confirms/opposes rational self-interest assumptions Links rule compliance with risk sharing concepts in Islamic Finance Applies game theory to understand behavioral rules compliance regarding Islamic Finance laws Explores behavioral implications for creating and marketing new financial products

Ecological Rationality

Ecological Rationality
Author: Peter M. Todd,Gerd Gigerenzer
Publsiher: Oxford University Press
Total Pages: 608
Release: 2012-04-10
ISBN 10: 019971794X
ISBN 13: 9780199717941
Language: EN, FR, DE, ES & NL

Ecological Rationality Book Review:

"More information is always better, and full information is best. More computation is always better, and optimization is best." More-is-better ideals such as these have long shaped our vision of rationality. Yet humans and other animals typically rely on simple heuristics to solve adaptive problems, focusing on one or a few important cues and ignoring the rest, and shortcutting computation rather than striving for as much as possible. In this book, we argue that in an uncertain world, more information and computation are not always better, and we ask when, and why, less can be more. The answers to these questions constitute the idea of ecological rationality: how we are able to achieve intelligence in the world by using simple heuristics matched to the environments we face, exploiting the structures inherent in our physical, biological, social, and cultural surroundings.

Optimal Financial Decision Making under Uncertainty

Optimal Financial Decision Making under Uncertainty
Author: Giorgio Consigli,Daniel Kuhn,Paolo Brandimarte
Publsiher: Springer
Total Pages: 298
Release: 2016-10-17
ISBN 10: 3319416138
ISBN 13: 9783319416137
Language: EN, FR, DE, ES & NL

Optimal Financial Decision Making under Uncertainty Book Review:

The scope of this volume is primarily to analyze from different methodological perspectives similar valuation and optimization problems arising in financial applications, aimed at facilitating a theoretical and computational integration between methods largely regarded as alternatives. Increasingly in recent years, financial management problems such as strategic asset allocation, asset-liability management, as well as asset pricing problems, have been presented in the literature adopting formulation and solution approaches rooted in stochastic programming, robust optimization, stochastic dynamic programming (including approximate SDP) methods, as well as policy rule optimization, heuristic approaches and others. The aim of the volume is to facilitate the comprehension of the modeling and methodological potentials of those methods, thus their common assumptions and peculiarities, relying on similar financial problems. The volume will address different valuation problems common in finance related to: asset pricing, optimal portfolio management, risk measurement, risk control and asset-liability management. The volume features chapters of theoretical and practical relevance clarifying recent advances in the associated applied field from different standpoints, relying on similar valuation problems and, as mentioned, facilitating a mutual and beneficial methodological and theoretical knowledge transfer. The distinctive aspects of the volume can be summarized as follows: Strong benchmarking philosophy, with contributors explicitly asked to underline current limits and desirable developments in their areas. Theoretical contributions, aimed at advancing the state-of-the-art in the given domain with a clear potential for applications The inclusion of an algorithmic-computational discussion of issues arising on similar valuation problems across different methods. Variety of applications: rarely is it possible within a single volume to consider and analyze different, and possibly competing, alternative optimization techniques applied to well-identified financial valuation problems. Clear definition of the current state-of-the-art in each methodological and applied area to facilitate future research directions.

The 21 Day Financial Fast

The 21 Day Financial Fast
Author: Michelle Singletary
Publsiher: Zondervan
Total Pages: 256
Release: 2014-01-07
ISBN 10: 0310338468
ISBN 13: 9780310338468
Language: EN, FR, DE, ES & NL

The 21 Day Financial Fast Book Review:

Financial Peace and Freedom in 21 Days In The 21-Day Financial Fast, award-winning writer and The Washington Post columnist Michelle Singletary proposes a field-tested financial challenge. For twenty-one days, participants will put away their credit cards and buy only the barest essentials. With Michelle’s guidance during this three-week financial fast, you will discover how to: Break bad spending habits Plot a course to become debt-free with the Debt Dash Plan Avoid the temptation of overspending for college Learn how to prepare elderly relatives and yourself for future long-term care expenses Be prepared for any contingency with a Life Happens Fund Stop worrying about money and find the priceless power of financial peace As you discover practical ways to achieve financial freedom, you’ll experience what it truly means to live a life of financial peace and prosperity. Thousands of individuals have participated in the fast and as a result have gotten out of debt and become better managers of their money and finances. The 21-Day Financial Fast is great for earners at any income-level or stage of life, whether you are living paycheck-to-paycheck or just trying to make smarter financial choices.