The behavioural finance revolution a new approach to financial policies and regulations

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 regu...

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Bibliographic Details
Other Authors: Viale, Riccardo (Editor), Modarres-Mousavi, Shabnam (Editor), Alemanni, Barbara (Editor)
Format: eBook
Language:English
Published: Northampton, MA Edward Elgar Pub. 2018, 2018
Series:Behavioural financial regulation and policy (BEFAIRLY)
Subjects:
Online Access:
Collection: Edward Elgar eBook Archive - Collection details see MPG.ReNa
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100 1 |a Viale, Riccardo  |e [editor] 
245 0 0 |a The behavioural finance revolution  |h Elektronische Ressource  |b a new approach to financial policies and regulations  |c edited by Riccardo Viale (University of Milano-Bicocca, Italy and Herbert Simon Society), Shabnam Mousavi (John Hopkins University, Carey Business School, US and Max Planck Institute for Human Development, Germany), and Barbara Alemanni (University of Genoa and Umberto Filotto, University of Rome "Tor Vergata", Italy) 
260 |a Northampton, MA  |b Edward Elgar Pub.  |c 2018, 2018 
300 |a 272 pages 
505 0 |a 9. A view on recent advances in behavioural macroeconomics and their lessons for the policymaker / Giordano Zevi -- Part II Finance from the view point of psychology, banks, regulators, and the industry -- 10. The heuristics revolution: rethinking the role of uncertainty in finance / Gerd Gigerenzer -- 11. The psychology of financial incompetence: past, present and future / Denis Hilton And Caroline Attia -- 12. Behavioral finance: from financial consumer protection to financial education / Magda Bianco And Francesco Franceschi -- 13. Behavioral impact of policies for the start-up and venture capital ecosystem / Giampio Bracchi -- 14. Investors' inconsistencies and the need for better financial literacy / Gregorio De Felice -- 15. How behavioral finance can reshape financial consumer protection: Consob's first steps in the European framework / Nadia Linciano -- 16. When central bankers become humans: behavioural economics and monetary policy decisions / Donato Masciandaro --  
505 0 |a 17. Trust the change? trust and the impact of policy making: the case of the introduction of the Mifid 2 directive in the financial advisory industry / Ugo Rigoni, Caterina Cruciani And Gloria Gardenal -- 18. CMU And role of institutional investors: investment behavior and governance of pension funds / Zeno Rotondi And Cristina Giorgiantonio -- 19. The Italian household wealth and their financial attitude: the new environment and a new approach / Alessandro Varaldo And Lorenzo Portelli -- Index 
505 0 |a Contents: Salvatore Rossi -- Foreword -- Introduction / Barbara Alemanni, Umberto Filotto, Shabnam Mousavi, Riccardo Viale -- Part I -- The many faces of finance in the academia -- 1. Understanding financial behaviour for better policy making: an introduction / Riccardo Viale -- 2. Behavioral policymaking with bounded rationality / Shabnam Mousavi -- 3. A taxonomy of behavioural policies / Barbara Alemanni -- 4. Do regulators know better? / Umberto Filotto -- 5. Behavioral finance and non-conventional monetary policies / Benoit Mojon, Adrian Penalver And Adriana Lojschova -- 6. The psychology of financial choices: from classical and behavioral finance to neurofinance / Massimo Egidi And Giacomo Sillari -- 7. Behavioral re-evolution: how behavioral economics has evolved and is evolving / Enrico Maria Cervellati -- 8. Evolutionary regulation and financial behavior / Paolo Mottura --  
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700 1 |a Modarres-Mousavi, Shabnam  |e [editor] 
700 1 |a Alemanni, Barbara  |e [editor] 
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520 |a 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. This book adopts a forward-looking agenda that takes account of existing practices based on behavioural science. It focuses on how to make financial markets an arena for fair play as a central criterion for securing and enhancing societal well being. It examines how bounded rationality, heuristic decision making, aversion to losses, endowment effects and social preferences may impact financial decisions, thus exposing the flaws in traditional forecasting methods that rely on an over-simplified representation of the individual. With contributions from both academics and practitioners, this book will be fundamental reading for researchers in the finance and behavioural economics. Regulators who wish to utilise behavioural policymaking will also find this a beneficial read