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It is the portfolio in the bag that matters, not the portfolio selected at each house." [4] Following on the naive diversification showed by children, Benartzi and Thaler turned to study whether the effect manifests itself among investors making decisions in the context of defined contribution saving plans. They found that "some investors ...
Daniel Kahneman, who won the 2002 Nobel Memorial Prize in Economics for his work developing prospect theory. Prospect theory is a theory of behavioral economics, judgment and decision making that was developed by Daniel Kahneman and Amos Tversky in 1979. [1]
A portfolio manager (PM) is a professional responsible for making investment decisions and carrying out investment activities on behalf of vested individuals or institutions. Clients invest their money into the PM's investment policy for future growth, such as a retirement fund , endowment fund , or education fund. [ 1 ]
Portfolio Management Definition. Portfolio management involves creating an investment strategy to meet specific financial goals. It incorporates such disparate elements as asset allocation, risk ...
Individual psychology (German: Individualpsychologie) is a psychological method or science founded by the Austrian psychiatrist Alfred Adler. [1] [2] The English edition of Adler's work on the subject (1925) is a collection of papers and lectures given mainly between 1912 and 1914.
The investment model of commitment, originally described by Caryl E. Rusbult, is a predictive psychological theory that aims to explain why people remain in relationships. Its tenants are based primarily on those of interdependence theory , created by Harold Kelley and John Thibaut . [ 1 ]
Behavioral portfolio theory (BPT), put forth in 2000 by Shefrin and Statman, [1] provides an alternative to the assumption that the ultimate motivation for investors is the maximization of the value of their portfolios. It suggests that investors have varied aims and create an investment portfolio that meets a broad range of goals. [2]
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