FINA 416: Behavioural Finance course guide

• Business Article Databases
  Search business article databases such as Business Source Complete and ABI Inform for business-related, peer-reviewed research articles, as well as articles published in trade journals such as Harvard Business Review.

• Web of Science
  Web of Science, like Google Scholar, can be searched for research articles published in journals focusing on a broad range subjects such as psychology and sociology. 
  
  
• Business Newspaper Databases 
  Business news database such as Factiva can be searched for news articles published in newspapers such as The New York Times and The Wall Street Journal. 

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Overconfidence

• CEO overconfidence and corporate investment
• Investor sentiment in the stock market
• Overconfidence and speculative bubbles
• Learning to be overconfident
• Why people fail to recognize their own incompetence

Representativeness

• Constituting 'the public' in public participation
• Diagnostic Expectations and Credit Cycles
• A behavioral explanation for the negative asymmetric return-volatility relation
• How financial literacy and demographic variables relate to behavioral biases
• Diagnostic Expectations and Stock Returns

Anchoring and Adjusting

• Power and perspectives not taken
• Perspective taking as egocentric anchoring and adjustment
• The anchoring-and-adjustment heuristic
• I'll Have What She's Having: Effects of Social Influence and Body Type on the Food Choices of Others
• Dynamic pricing strategies with reference effects

Cognitive Dissonance

• The psychology of the unthinkable: Taboo trade-offs, forbidden base rates, and heretical counterfactuals
• Belief in a just world and redistributive politics
• Fair shares: Accountability and cognitive dissonance in allocation decisions
• Identity, morals, and taboos: Beliefs as assets
• Self-affirmation and self-control: Affirming core values counteracts ego depletion
• Experimental manipulations of self-affirmation: A systematic review
• Can mixed emotions peacefully coexist?

Availability

• The Fox News effect: Media bias and voting
• Discrimination in the small-business credit market
• The nature of information and overconfidence on venture capitalists' decision making
• The determinants of growth for small and medium sized firms. The role of the availability of external finance
• Are individuals entering self-employment overly optimistic? An empirical test of plans and projections on nascent entrepreneur expectations

Self-Attribution

• Individualism and Momentum around the World
• Licensing effect in consumer choice
• Investor overconfidence and trading volume
• Online investors: Do the slow die first?
• Are overconfident CEOs born or made? Evidence of self-attribution bias from frequent acquirers
• Acquisitions, overconfident managers and self-attribution bias

Illusion of Control

• Cognitive, biases, risk perception and venture formation: How individuals decide to start companies
• Why Networks Enhance the Progress of New Venture Creation: The Influence of Social Capital and Cognition
• Managing global megaprojects: Complexity and risk management
• Portfolio choice and risk attitudes: An experiment
• Predicting a firm's forecasting ability: The roles of organizational illusion of control and organizational attention
• Trading on illusions: Unrealistic perceptions of control and trading performance

Endowment

• Behavioral biases and cognitive reflection
• The endowment effect: Rose-tinted and dark-tinted glasses
• Mispredicting the endowment effect: underestimation of owners' selling prices by buyer's agents
• Moderating Loss Aversion: Loss Aversion Has Moderators, But Reports of its Death are Greatly Exaggerated
• Overestimating Others' Willingness to Pay
• Equilibrium stock return dynamics under alternative rules of learning about hidden states

Self-Control

• Save More Tomorrow™: Using behavioral economics to increase employee saving
• Construal levels and psychological distance: Effects on representation, prediction, evaluation, and behavior
• Temptation and self-control
• Spent resources: Self-regulatory resource availability affects impulse buying
• Unable to resist temptation: How self-control depletion promotes unethical behavior
• The influence of culture on consumer impulsive buying behavior

Optimism

• Analyzing the analysts: Career concerns and biased earnings forecasts
• Rationality and analysts' forecast bias
• Do moderators of the optimistic bias affect personal or target risk estimates? A review of the literature
• Overoptimism and the performance of entrepreneurial firms
• Rational overoptimism (and other biases)
• Behavioral Public Administration ad fontes: A Synthesis of Research on Bounded Rationality, Cognitive Biases, and Nudging in Public Organizations
• A Primer on Unrealistic Optimism

Mental Accounting

• Mental accounting and consumer choice
• Prospect theory, mental accounting, and momentum
• Mental accounting, loss aversion, and individual stock returns
• Do professional traders exhibit myopic loss aversion? An experimental analysis
• Always leave home without it: A further investigation of the credit-card effect on willingness to pay
• Value-Driven Internet Shopping: The Mental Accounting Theory Perspective

Loss Aversion

• Loss aversion and seller behavior: Evidence from the housing market
• Prospect theory and asset prices
• Loss aversion under prospect theory: A parameter-free measurement
• The boundaries of loss aversion
• Mental accounting, loss aversion, and individual stock returns
• Do professional traders exhibit myopic loss aversion? An experimental analysis

Confirmation

• When Do Consumers Value Positive vs. Negative Reviews? An Empirical Investigation of Confirmation Bias in Online Word of Mouth
• Effects of pricing and promotion on consumer perceptions: it depends on how you frame it
• Combating Fake News on Social Media with Source Ratings: The Effects of User and Expert Reputation Ratings
• Fake news on social media: People believe what they want to believe when it makes no sense at all
• Positive confirmation bias in the acquisition of information
• Information search and presentation in advisor-client interactions

Framing

• Cognitive benefits of scenario planning: Its impact on biases and decision quality
• Further reflections on the elimination of framing bias in strategic decision making
• Eliminating a framing bias by using simple instructions to 'think harder' and respondents with managerial experience: Comment on 'breaking the frame'
• Display Optimization for Vertically Differentiated Locations Under Multinomial Logit Preferences
• Prospect theory and narrow framing bias: Evidence from emerging markets

Hindsight

• Counterfactual thinking and venture formation: The potential effects of thinking about "what might have been"
• Debiasing the outcome effect: The role of instructions in an audit litigation setting
• An investigation of hindsight bias in nascent venture activity
• Predictors of the survival of innovations
• Hindsight Bias, Risk Perception, and Investment Performance

Recency

• Innovation through tradition: Lessons from innovative family businesses and directions for future research
• The 52-week high and momentum in the Taiwan stock market: Anchoring or recency biases?
• Location, Location, Location: An Analysis of Profitability of Position in Online Advertising Markets
• The timing of 52-week high price and momentum
• Availability, recency, and sophistication in the repurchasing behavior of retail investors

Regret Aversion

• Consequences of regret aversion in real life: The case of the Dutch postcode lottery
• Impact of Online Consumer Reviews on Sales: The Moderating Role of Product and Consumer Characteristics
• Regret aversion and decision process quality: Effects of regret salience on decision process carefulness
• Regret aversion and opportunity dependence
• Consequences of regret aversion in real life: The case of the Dutch postcode lottery

Status Quo

• Goal orientation and consumer preference for the status quo
• Rational choice with status quo bias
• Are entrepreneurs' decisions more biased? An experimental investigation of the susceptibility to status quo bias
• Willingness to accept, willingness to pay and the income effect

Neuro Economics

• The Lehman Sisters hypothesis
• From Psycho-Economics to Neuro-Economics

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