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Behavioral finance: insights from experiments II: biases, moods and emotions

Lookup NU author(s): Professor Darren DuxburyORCiD

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Abstract

Purpose The aim in this second of two companion papers is to further review the insights provided by experimental studies examining financial decisions and market behavior. Design/methodology/approach Focus is directed on those studies examining explicitly, or with direct implications for, the most robustly identified phenomena or stylized facts observed in behavioral finance. The themes for this second paper are biases, moods and emotions. Findings Experiments complement the findings from empirical studies in behavioral finance by avoiding some of the limitations or assumptions implicit in such studies. Originality/value We synthesize the valuable contribution made by experimental studies in extending our knowledge of how biases, moods and emotions influence the financial behavior of individuals, highlighting the role of experimental studies in policy design and intervention.

Publication metadata

Author(s): Duxbury D

Publication type: Article

Publication status: Published

Journal: Review of Behavioral Finance

Year: 2015

Volume: 7

Issue: 2

Pages: 151-175

Online publication date: 09/11/2015

Acceptance date: 28/09/2015

Date deposited: 11/11/2015

ISSN (print): 1940-5979

ISSN (electronic): 1940-5987

Publisher: Emerald

URL: http://dx.doi.org/10.1108/RBF-09-2015-0037

DOI: 10.1108/RBF-09-2015-0037

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