Brief introduction to the content of behavioral finance

Starting with the defects of efficient market hypothesis, this book puts forward the significance of behavioral finance theory to the development of gold theory, and points out the practical significance of this theory in combination with the anomalies of domestic and foreign securities markets. Through the design of psychological experiments and the introduction of psychological related knowledge, we can understand the psychological and behavioral deviation of human beings under uncertain decision-making, and on this basis, we put forward the substitution of prospect theory for expected utility theory. Combining the characteristics of financial markets and the knowledge of psychology, this book analyzes the psychological and behavioral deviations of investors in the process of financial market transactions from the perspective of individuals and groups. As the crystallization of banking finance theory and application, this book analyzes behavioral asset pricing model and modern portfolio theory according to the characteristics of human behavior in securities trading, and puts forward behavioral investment strategies. Based on the analysis of managers' psychological and behavioral deviations, this book puts forward behavioral corporate finance theory.