The Psychology of Investing, 4/e (Paperback)

John R. Nofsinger

  • 出版商: Prentice Hall
  • 出版日期: 2010-02-26
  • 售價: $680
  • 貴賓價: 9.8$666
  • 語言: 英文
  • 頁數: 144
  • 裝訂: Paperback
  • ISBN: 0136117031
  • ISBN-13: 9780136117032
  • 下單後立即進貨 (約5~7天)




The Psychology of Investing is the first text of its kind to delve into the fascinating subject of how psychology affects investing. Its unique coverage describes how investors actually behave, the reasons and causes of that behavior, why the behavior hurts their wealth, and what they can do about it.

The fourth edition addresses the current financial crisis, has a new chapter on framing effects, and contains new evidence and ideas in every chapter.

What really moves the market: Understanding the psychological aspects. Traditional finance texts focus on developing the tools that investors use for calculating risk and return. The Psychology of Investing is one of the first texts to delve into how psychology affects investing rather than solely focusing on traditional financial theory. This text’s material, however, does not replace traditional investment textbooks but complements them, helping students become better informed investors who understand what motivates the market. 

Keep learning consistent: Most of the chapters are organized in a similar succession.
This approach adheres to following order:

  1. A psychological bias is described and illustrated with everyday behavior
  2. The effect of the bias on investment decisions is explained
  3. Academic studies are used to show why investors need to remedy the problem

NEW! Growing with the subject matter: Current and fresh information. Because data on investor psychology is rapidly increasing, the fourth edition contains many new additions to keep students up-to-date.

  • The new Chapter 5: Decision Frames includes question framing and choice, framing and the risk/return relationship, prediction, analytical and intuitive thinking modes, pension frame designs.
  • New sections include “Disposition Outside of the Stock Market”, “Disposition and Investor Sophistication” and “The Thrill of Investing.”
  • The financial crisis is examined in the introduction.
  • A new discussion on how the 2009 Recovery Act will likely reduce savings, thus lowering people’s wealth, appears in Chapter 6.


Chapter 1: Psychology and Finance
Chapter 2: Overconfidence
Chapter 3: Pride and Regret
Chapter 4: Risk Perceptions
Chapter 5: Decision Frames
Chapter 6: Mental Accounting
Chapter 7: Forming Portfolios
Chapter 8: Representativeness and Familiarity
Chapter 9: Social Interaction and Investing
Chapter 10: Emotion and Investment Decisions
Chapter 11: Self-Control and Decision Making