IDEAS home Printed from https://ideas.repec.org/a/fgv/eaerae/v46y2006i1a37062.html
   My bibliography  Save this article

Paradoxos em finanças: teoria moderna versus finanças comportamentais

Author

Listed:
  • Kimura, Herbert
  • Basso, Leonardo Fernando Cruz
  • Krauter, Elizabeth

Abstract

This study discusses the Behavioral Finance, one of the most important and controversial innovations in finance, that confronts the traditionally accepted paradigm based on the Modern Finance Theory. Initially, a synthesis of potential problems of decision-making is carried through, with examples of some non-rational aspects that make up important paradoxes in finance. After a discussion of the prospect theory, the seminal experiments of Kahneman and Tversky are replicated in a Brazilian sample. Many situations that violate premises of the theory of the expected utility, base of the Modern Finance Theory, are presented. Empirical results show that evidences of many perception biases in decisionmaking are consistent, independently of aspects related with the evolution of the market and the culture or nationality of individuals. The separation between theory and practice in financial decisions suggests the Behavioral Finance as an alternative to explain attitudes of economic agents.

Suggested Citation

  • Kimura, Herbert & Basso, Leonardo Fernando Cruz & Krauter, Elizabeth, 2006. "Paradoxos em finanças: teoria moderna versus finanças comportamentais," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 46(1), January.
    • Handle: RePEc:fgv:eaerae:v:46:y:2006:i:1:a:37062
    as

    Download full text from publisher

    File URL: http://bibliotecadigital.fgv.br/ojs/index.php/rae/article/view/37062
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Miotto, Ana Paula S. C. & Parente, Juracy, 2015. "Antecedentes e consequências do gerenciamento das finanças domésticas na classe média baixa brasileira," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 55(1), January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fgv:eaerae:v:46:y:2006:i:1:a:37062. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Núcleo de Computação da FGV EPGE (email available below). General contact details of provider: https://edirc.repec.org/data/eagvfbr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.