The financial crisis left the financial sector reeling. Although the economy is recovering, there are...
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The financial crisis left the financial sector reeling. Although the economy is recovering, there are significant after effects. One lesson coming out of the crisis: Managers and investors must understand the complex environment in which they operate. This environment not only determines what kinds of decisions they can make, but the result of those decisions. Nobody makes decisions in a vacuum. After the financial crisis, people have turned to behavioral finance theory for answers about what happened in the lead up. Which psychological factors might have influenced the individual decisions of managers? And how do those decisions end up affecting the market and society as a whole? Which factors tend to influence how people perceive markets and how they act? How can we predict what people will do based on human instinct and cognition?
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