Yale School of Management

International Center for Finance

Providing academic and professional support for research in financial economics.

SOM Finance Faculty Contribute to "Handbook of Behavioral Economics"

May 7, 2019

Handbook of Behavioral EconomicsThe fall of 2018 saw the publication of the “Handbook of Behavioral Economics,” a landmark volume that summarizes three decades of intensive effort to improve our understanding of the economy through psychologically-realistic frameworks. The volume contains two chapters by SOM finance faculty.

Professor Nicholas Barberis contributed a chapter on asset prices, “Psychology-based Models of Asset Prices and Trading Volume,” and Professor James Choi, along with co-authors, contributed a chapter on household finance, “Behavioral Household Finance”.

Both the overall volume, and these chapters in particular, have attracted a lot of attention and will hopefully set the stage for the next two decades of progress in the field.

The International Center for Finance is a leading center for research in behavioral science – specifically, research in the fields of behavioral decision-making, behavioral economics, and behavioral finance. Behavioral decision-making studies the basic psychology of decision-making, while behavioral economics and behavioral finance study the role of irrational thinking in economic and financial decision-making, respectively. Yale’s research efforts in these fields have been helped immeasurably by the generous support of Andrew Redleaf of Whitebox Advisors.

About the author

Nicholas C. Barberis

Stephen and Camille Schramm Professor of Finance

Explore. Discover. Connect.