Finance for Normal People: How Investors and Markets Behave

by Meir Statman, PhD

Finance for Normal People teaches behavioral finance to people like you and me -- normal people, neither rational nor irrational. The book guides us to know our wants -- including hope for riches, protection from poverty, caring for family, sincere social responsibility and high social status. It teaches financial facts and human behavior, including making cognitive and emotional shortcuts and avoiding cognitive and emotional errors such as overconfidence, hindsight, exaggerated fear, and unrealistic hope. And it guides us to banish ignorance, gain knowledge, and increase the ratio of smart to foolish behavior on our way to what we want.

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Meir Statman, a founder of behavioral finance, draws on his extensive research and the research of many others to build a unified structure of behavioral finance. Its foundation blocks include normal behavior, behavioral portfolio theory, behavioral life-cycle theory, behavioral asset pricing theory and behavioral market efficiency.

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AuthorMeir Statman, PhD
Author Bio

Meir Statman, PhD, professor of finance at Santa Clara University’s Leavey School of Business, California. He is author of Finance for Normal People: How Investors and Markets Behave.

Publication DateApr 30, 2017
Book TypeHardcover