Search results for ""Author Karl-Erik Wärneryd""

Book SynopsisThis innovative book provides an up-to-date assessment of the factors accounting for the differences between people who save and people who do not save money. Humans are forward looking and want to make provisions for future consumption according to saving theories. Some people save and others with similar incomes and wealth do not. Why? Whilst psychology has devoted little attention to the forward looking dimension of human behaviour, it contributes theories and techniques for studying the cognitive, motivational, and social factors that affect saving. The book examines the assumption that man is forward looking and desires to provide for the future. It summarises theories and behavioural research in the area of saving and explores the psychological insights and findings of economists and interprets them in terms of modern psychology.The Psychology of Saving will be welcomed as a major contribution to economic psychology which brings together research and analysis, developing our understanding about rationality, expectations and consumer behaviour.Trade Review'This book is a major scholarly achievement, which deserves to be held in any academic library and should find its way onto the reading lists of a diverse range of courses. It will also be of considerable interest to public policymakers, who in the final chapter will find a rich array of suggestions of ways of affecting savings rates that focus on education and managing expectations rather than financial incentives such as interest rates and tax provisions. Warneryd combines a comprehensive but very readable survey of the literature on saving with reports of recent work based on survey material from the VSB Panel database of the CentER for Economic Research at Tilburg University, garnishing the mix with many delightful quotations. It is a substantial volume.' -- Peter E. Earl, Journal of Economic Psyhology'Warneryd, a respected Swedish academic, has written a thoughtful and interesting volume that advocates more psychological research on the motivations for saving. . . . Excellent bibliography; exceedingly complete index.' -- D.E. Bond, Choice'If you teach about saving, want to motivate higher rates of savings, or do research on any aspect of behavior related to saving, this book will be a guide and inspiration . . . This book could be the "only book you'll ever need" on the psychology of saving. Seasoned researchers will reap the benefits of a thorough history along with a generous helping of European work that may not be familiar to North American readers.' -- Jean M. Lown, Utah State University, US'This is a stimulating and scholarly text.' -- Economic Outlook and Business ReviewTable of ContentsContents: Introduction 1. A Closer Look at Psychology and Economics and at Economic Psychology 2. What Saving Is and Is Not 3. A Historical Perspective on the Psychology of Saving 4. The Psychology of Saving in Modern Economic Theories of Saving 5. Psychological and Other Behavioral Research on Household Saving 6. The Use of Psychological Variables in the Study of Saving: The Cognitive Concepts of Expectation, Uncertainty and Decision Making 7. The Use of Psychological Variables in the Study of Saving: Attitudes, Motives, Personality and Social Influence 8. An Integrative Framework for the Psychology of Saving 9. Implications for Studying and Influencing the Consumer References Index

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Book SynopsisThe rationale behind how people value and trade stocks is of unparalleled interest to governments, companies and other participants in stock markets. The book focuses on the way in which investors process information and form expectations about future gains. It argues that humans fall short of the perfect information processing required by theory, and that their expectations are based on more than just future company earnings. Karl-Erik Warneryd discusses the psychology of investing, providing detailed coverage of how financial expectations are formed, how complex decisions are made and how emotions and influence from others affect the financial decisions of individuals. Empirical studies featured in the book suggest that many, if not most, stockholders have long-term goals, believe in certain stocks, and make few transactions - behavior which, argues the author, may have a stabilizing influence upon stock prices. As a unique overview of how investors process information and build up expectations of future gains on stocks, this fascinating book will be welcomed by students of, and researchers in, economic psychology and behavioral finance. Stock-Market Psychology will also be invaluable to practitioners of finance who wish to learn more about the psychology behind financial transactions.Trade Review'As usual, Warneryd has carefully made sure that the inter-disciplinary perspective rests upon a solid foundation with respect to the latest research and classical work. . . very stimulating reading. Stock-Market Psychology aims at bridging the gap between researchers in behavioral finance (and economics) and economic-oriented psychologists. . . Apart from providing important analytical tools, the book should stimulate future research and perhaps bring researchers in (behavioral) finance and psychology together in mutual projects on investor behavior.' -- Patric Andersson, Ekonomisk Debatt'Finance has long been dominated by the model of the economic man, the investor who rationally processes expectations and information, then translates this data into asset prices. Within the past decade or so, however, the continued presence of market inefficiencies and stock return anomalies has stimulated the development of a subspecialty known as behavioral finance. This book is a thoughtful and exceptionally well documented examination of this emerging area. . . Though scholarly, the book is not overly technical and is a significant improvement over the many popular books in the area. For graduate students, graduate-educated professionals in banking and finance, and business school professionals.' -- S.P. Ferris, Choice'Stock-Market Psychology gives an excellent overview of the state-of-the-art literature on this subject in the fields of economics, psychology and finance. . . a comprehensive overview of the behavior of investors in the stock market. As such, this book is valuable for the classroom. . . Stock-Market Psychology provides researchers with numerous ideas for future research and readers with useful and fun tips without taking away our hopes of ever becoming rich from investing in stocks. What more is there to ask from a book?' -- Joost M.E. Pennings, Journal of Economic Psychology'George Goodman ('Adam Smith') once wrote, "you can find out who you are by investing in the stock market, but it will be an expensive lesson". It is far smarter and cheaper to read Warneryd's book instead. At a time when global stock markets are driven by emotions and passions, and are highly volatile, Chapter Six will tell you why, far better than a hundred analysts' reports.' -- Shlomo Maital, TIM-Technion Institute of Management and the Samuel Neaman Institute for Advanced Studies in Science and Technology, IsraelTable of ContentsContents: Preface Introduction 1. Efficient Markets and Rational Models of Portfolio Choice 2. Behavioral Considerations in Financial Markets 3. Expectation Formation 4. Decision Making, Uncertainty, and Risk Attitudes 5. Cognitive Bias, (Simple) Heuristics, and Mental Accounts 6. Emotionality, Motivation, Self-Control, and Investment 7. Social Influence 8. Some Behavioral Data on Investors 9. Investor Groups and Market Segements 10. Implications and Some Further Thoughts on Private Investing References Index

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Book SynopsisThe rationale behind how people value and trade stocks is of unparalleled interest to governments, companies and other participants in stock markets. The book focuses on the way in which investors process information and form expectations about future gains. It argues that humans fall short of the perfect information processing required by theory, and that their expectations are based on more than just future company earnings. Karl-Erik Warneryd discusses the psychology of investing, providing detailed coverage of how financial expectations are formed, how complex decisions are made and how emotions and influence from others affect the financial decisions of individuals. Empirical studies featured in the book suggest that many, if not most, stockholders have long-term goals, believe in certain stocks, and make few transactions - behavior which, argues the author, may have a stabilizing influence upon stock prices. As a unique overview of how investors process information and build up expectations of future gains on stocks, this fascinating book will be welcomed by students of, and researchers in, economic psychology and behavioral finance. Stock-Market Psychology will also be invaluable to practitioners of finance who wish to learn more about the psychology behind financial transactions.Trade Review'As usual, Warneryd has carefully made sure that the inter-disciplinary perspective rests upon a solid foundation with respect to the latest research and classical work. . . very stimulating reading. Stock-Market Psychology aims at bridging the gap between researchers in behavioral finance (and economics) and economic-oriented psychologists. . . Apart from providing important analytical tools, the book should stimulate future research and perhaps bring researchers in (behavioral) finance and psychology together in mutual projects on investor behavior.' -- Patric Andersson, Ekonomisk Debatt'Finance has long been dominated by the model of the economic man, the investor who rationally processes expectations and information, then translates this data into asset prices. Within the past decade or so, however, the continued presence of market inefficiencies and stock return anomalies has stimulated the development of a subspecialty known as behavioral finance. This book is a thoughtful and exceptionally well documented examination of this emerging area. . . Though scholarly, the book is not overly technical and is a significant improvement over the many popular books in the area. For graduate students, graduate-educated professionals in banking and finance, and business school professionals.' -- S.P. Ferris, Choice'Stock-Market Psychology gives an excellent overview of the state-of-the-art literature on this subject in the fields of economics, psychology and finance. . . a comprehensive overview of the behavior of investors in the stock market. As such, this book is valuable for the classroom. . . Stock-Market Psychology provides researchers with numerous ideas for future research and readers with useful and fun tips without taking away our hopes of ever becoming rich from investing in stocks. What more is there to ask from a book?' -- Joost M.E. Pennings, Journal of Economic Psychology'George Goodman ('Adam Smith') once wrote, "you can find out who you are by investing in the stock market, but it will be an expensive lesson". It is far smarter and cheaper to read Warneryd's book instead. At a time when global stock markets are driven by emotions and passions, and are highly volatile, Chapter Six will tell you why, far better than a hundred analysts' reports.' -- Shlomo Maital, TIM-Technion Institute of Management and the Samuel Neaman Institute for Advanced Studies in Science and Technology, IsraelTable of ContentsContents: Preface Introduction 1. Efficient Markets and Rational Models of Portfolio Choice 2. Behavioral Considerations in Financial Markets 3. Expectation Formation 4. Decision Making, Uncertainty, and Risk Attitudes 5. Cognitive Bias, (Simple) Heuristics, and Mental Accounts 6. Emotionality, Motivation, Self-Control, and Investment 7. Social Influence 8. Some Behavioral Data on Investors 9. Investor Groups and Market Segements 10. Implications and Some Further Thoughts on Private Investing References Index

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