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dc.contributor.authorSalzman, Diegoen_US
dc.contributor.authorTrifan, Emanuelaen_US
dc.date.accessioned2006-05-04en_US
dc.date.accessioned2010-05-14T11:57:23Z-
dc.date.available2010-05-14T11:57:23Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/32092-
dc.description.abstractThis paper presents a model in which rational and emotional investors are compelled to make decisions under uncertainty in order to ensure their survival. Using a neurofinancial setting, we show that, when different investor types fight for market capital, emotional traders tend not only to influence prices but also to have a much more developed adaptive mechanism than their rational peers, in spite of their apparently simplistic demand strategy and distorted revision of beliefs. Our results imply that prices in financial markets could be seen more accurately as a thermometer of the market mood and emotions rather than as simple informative signals as stated in traditional financial theory.en_US
dc.language.isoengen_US
dc.publisherTechn. Univ., Inst. für Volkswirtschaftslehre Darmstadten_US
dc.relation.ispartofseriesDarmstadt discussion papers in economics 166en_US
dc.subject.jelG1en_US
dc.subject.ddc330en_US
dc.subject.keywordJudgement under uncertaintyen_US
dc.subject.keywordBayesian Inferenceen_US
dc.subject.keywordBehavioral Financeen_US
dc.subject.keywordDecision Makingen_US
dc.subject.keywordEmotionsen_US
dc.titleEmotions, Bayesian inference, and financial decision makingen_US
dc.typeWorking Paperen_US
dc.identifier.ppn511221452en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Darmstadt Discussion Papers in Economics, Inst. f. VWL, TU Darmstadt

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