Suggestions(5)
Exact(12)
We reject behavioral explanations based on overconfidence and disposition effect.
We discuss both the behavioral explanations that might underlie these findings as well as some potential approaches to reduce threats to evaluation validity.
We provide suggestive evidence that the spillover has more to do with an information environment, but can ultimately not reject other behavioral explanations such as asymmetric persistence of norms.
The generality of this approach addresses concerns that financial economists sometimes under-emphasize the benefits of incorporating behavioral explanations in activities such as M&A assessment (e.g., see Shiller 2017), while more organizationally focused scholars sometimes downplay the role of financial analysis in such decisions (e.g., Bower 1970; Christensen et al. 2011).
There are scientific reasons and some developmental and behavioral explanations for these awakenings.
Potential behavioral explanations include inattentiveness and salience, myopia and short sightedness, bounded rationality and heuristic decision-making, prospect theory and reference-point phenomena, and systematically biased beliefs.
Similar(48)
And without question, a biological or behavioral explanation for how such a brief treatment can last a decade will have to be found.
Thus, if the behavioral explanation is true, we should expect returns to improve throughout the week.
(2008) for a behavioral explanation of the negative asymmetric return volatility relation.
The results are thus consistent with the prediction of the behavioral explanation of the day-of-the-week effect.
Further support for the behavioral explanation of the day-of-the-week effect is recently provided by Birru (2017).
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