Three essays on behavioural finance

Diplôme Thèse Three essays on behavioural finance eng 2017-01-26 author Hemmens Christopher 747899 director Gibson Brandon Rajna Nicole 21951 10.13097/archive-ouverte/unige:91674 urn:nbn:ch:unige-916744 GSEM 39 The fact that human economic behaviour has a significant irrational element - one that is simultaneously hard-to-explain and highly predictable - has fascinated economists for decades from Fechner, 1860 to Shiller, 2005 and beyond. In this dissertation, I investigate the field from various perspectives: chapter 1 examines the impact that language describing irrational behaviour in the media has on stock markets; chapter 2 looks at whether musical harmonics can predict what choices participants in money-sharing games will make; and chapter 3 takes an existing theroetical model of stochastic decision-making and changes it to help explain phenomena such as the overweighting of small probabilities, the 'willingness-to-accept'-'willingess-to-pay' (WTA-WTP) disparity, and preference reversals. Behavioural Finance Economics Asset pricing Linguistics Irrationality Media Stock market returns Volatility Noise trader Ultimatum game Heuristic Music Aesthetic Probabilistic choice Strong utility Preference reversal Endowment effect Dewey 650 116 Geneva Finance Research Institute S4 false b9b87442-e7f2-406e-bb24-458a61384123 Thesis Public phdthesis.pdf 4314364 application/pdf openAccess Faculté d'économie et de management / Geneva Finance Research Institute

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Hemmens, Christopher