The End of Behavioral Finance

CFA Institute The End of Behavioral Finance Author(s): Richard H. Thaler Source: financial Analysts Journal, Vol. 55, no 6, Behavioral Finance (Nov. - Dec., 1999), pp. 12-17 Published by: CFA Institute abiding URL: hypertext transfer protocol://www.jstor.org/stable/4480205 Accessed: 17/04/2009 10:10 Your practise of the JSTOR archive indicates your acceptance of JSTORs Terms and Conditions of Use, available at hypertext transfer protocol://www.jstor.org/page/info/about/policies/terms.jsp. JSTORs Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you whitethorn not download an completed issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. enchant clear up the publisher regarding any further use of this work. publishing house contact information may be obtained at http://www.jstor.org/action/showPublisher?publisherCode=cfa. Each copy of any part of a JSTOR transmission must contain the same copyright chance upon that appears on the screen or printed page of such transmission. JSTOR is a not-for-profit organization founded in 1995 to build trusted digital pull in for scholarship. We work with the scholarly community to preserve their work and the materials they aver upon, and to build a common research platform that promotes the baring and use of these resources.

For more information about JSTOR, please contact support@jstor.org. CFA Institute is collaborating with JSTOR to digitize, preserve and extend access to Financial Analysts Journal. http://www.jstor.org PERSPECTIVES The End of Behavioral RichardH. Thaler Finance Tn 1985,WernerDe Bondt and I published an article that asked the question: Does the stockmarketoverreact? articlewas conThe troversialbecauseit gave distinguish to support the hypothesis that a cognitive bias (investoroverreactionto a long seriesof bad news) could produce predictable mispricing of stocks traded on the NYSE.Although this fancy was hardly... If you want to get a full essay, order it on our website: Ordercustompaper.com

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