financial markets to be inefficient. The debate between neoclassical and behavioral finance is wide ranging, and sometimes explains differences in policy recommendations on such issues as financial regulation, corporate governance, or the privatization of social security. It had immediate impact worldwide including emerging markets (Muradoglu, 1989). Behavioral finance emerged as a field in the early 1980s with contributions by, among others, David Dreman, Robert Shiller, Hersh Shefrin, Meir Statman, Werner…
Words 9682 - Pages 39