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IMA Public Lecture
Behavioral Finance - The Closed End Fund Puzzle


2003-2004 Public Lecture Series Poster

Probability and Statistics in Complex Systems: Genomics, Networks, and Financial Engineering, September 1, 2003 - June 30, 2004

Stephen A. Ross
MIT Sloan School of Management
Massachusetts Institute of Technology
sross@mit.edu
http://sloancf.mit.edu/vpf/facstaff.cfm?ID=226

7:00 pm    March 30, 2004    Room 100 Smith Hall

Frustrated by difficulties in explaining seemingly aberrant financial market behavior using contemporary methods of financial economics, a new school of behavioral finance has arisen that mixes psychology and economics. Despite the superficial appeal of this multi-disciplinary approach, this talk critiques behavioral finance by using the analytic tools of option pricing theory to solve a canoncial puzzle of behavioral finance - the closed end fund discount.

 

IMA Short Course: Tools for Modeling and Data Analysis in Finance/Asset Pricing, March 29-April 2, 2004

IMA Public Lecture Series/Special Lectures

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