2013•Zenith international journal of business economics and management researchRequires access
Irrationality in investment decision making- A case study in behavioral finance
Salim A Shamsher, Parag Kalkar
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Abstract
Finance theories and concepts are based on the basic assumption that humans act rationally in all situations; however this is not the case. Dozens of examples of Irrationality of human behavior have been documented in multiple research studies. Such and similar studies have led to the emergence of a new school of thought which integrates two seemingly quite diverse disciplines, namely Finance and Psychology into one aptly termed as Behavioral Finance.