Handbook of investors' behavior during financial crises / edited by Fotini Economou, Konstantinos Gavriilidis, Greg N. Gregoriou, Vasileios Kallinterakis
- Title page; Table of Contents; Copyright; List of Contributors; Editor Bios; Contributor Bios; Acknowledgments; Section A: Theoretical Perspectives of Investors' Behaviour During Financial Crises; Chapter 1: Debt Markets, Financial Crises, and Public Finance in the Eurozone: Action, Structure, and Experience in Greece; Abstract; 1.1. Introduction and Theoretical Framework; 1.2. The Crisis Chronology; 1.3. Experiences; 1.4. The Structures; 1.5. Conclusions; Chapter 2: Investor Behavior Before and After the Financial Crisis: Accounting Standards and Risk Appetite in Fixed Income Investing
Abstract2.1. Introduction; 2.2. Early Signs of Trouble; 2.3. Investor Fat Tail-Seeking; 2.4. Investor Behavior, Pre- and Postcrisis; 2.5. Benchmark-Relative Performance; 2.6. Information Ratio in a Low-Volatility/Rate Environment; 2.7. Probability of Outperformance and Investor Utility of Wealth; 2.8. Portfolio Ratings and Probability of Outperformance; 2.9. Conclusions; Chapter 3: Optimal Bubble Exit Strategies; Abstract; 3.1. Introduction; 3.2. The Model; 3.3. The Game with Multiple Shots; 3.4. Cascading the Orders in Dark Pools; 3.5. Conclusions
Chapter 4: Why History Matters to Financial Economists: The Case of Black Monday 1987Abstract; 4.1. Introduction; 4.2. Analyzing Investor Behavior; 4.3. Prisoners' Dilemma and Investor Behavior; 4.4. Empirical Observations-The Black Monday of October 1987; 4.5. Conclusions; Chapter 5: Governing Financial Orders Which Have Been Grown and Not Made: The Origins of the Financial Crisis in Financial Gridlock; Abstract; 5.1. Introduction; 5.2. Governing Financial Orders Which Have Been Grown and Not Made; 5.3. Common Elements in Recent Crises; 5.4. Financial Reform and the Law of Liberty
5.5. Regulating a Grown Financial Order5.6. Fragmentation of Property Rights and Financial Order; 5.7. Illustrations of the Role of Fragmentation of Property Right in Inducing Crises; 5.8. Regulation as an Imperfect Substitute for Social Norms of Good Behavior; 5.9. Liberal Justification of Financial Regulation; 5.10. Tragedies of the Commons, Anticommons, and Gridlock; 5.11. Fragmentation of Property Rights as a Trigger for Financial Crisis and Reform; 5.12. Conclusions; Appendix: Ownership Fragmentation and Conflicts in the CDO/CDS Market
Chapter 6: Overconfidence in Finance: Overview and TrendsAbstract; 6.1. Market Efficiency and Investor Rationality; 6.2. Overconfidence; 6.3. Sources of Overconfidence; 6.4. Empirical Evidence on Overconfidence; 6.5. What Next for Overconfidence in Finance?; 6.6. Conclusions; Chapter 7: Rational Agents and Irrational Bubbles; Abstract; 7.1. Introduction; 7.2. An Application of AB to the United States 2006-07 Housing Bubble; 7.3. Conclusions; Chapter 8: The Similarities Between the Bulgarian Local Financial Crisis in 1997 and the Global Financial Crisis in 2008; Abstract; 8.1. Introduction
- 9780128112533 (electronic bk.)
0128112530 (electronic bk.)
- Includes index.
- Bibliography Note:
- Includes bibliographical references and index.
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