IDEAS home Printed from https://ideas.repec.org/a/taf/hbhfxx/v18y2017i4p470-477.html
   My bibliography  Save this article

Financial Advertising in the Second Generation of Behavioral Finance

Author

Listed:
  • Meir Statman

Abstract

Financial economists writing about financial advertising often describe them as fluff at best and misleading or fraudulent at worst. This description typifies the first generation of behavioral finance that described people as irrational, misled by ads into cognitive and emotional errors. The second generation of behavioral finance describes people as normal. It acknowledges the full range of people's normal wants and distinguishes wants from errors. Some financial ads exploit errors, whereas others cater to wants. Our wants include the utilitarian, expressive, and emotional benefits of riches and protection from poverty, nurturing our children and families, playing games and winning, staying true to our values, gaining respect and high social status, promoting fairness, paying no taxes, and more.

Suggested Citation

  • Meir Statman, 2017. "Financial Advertising in the Second Generation of Behavioral Finance," Journal of Behavioral Finance, Taylor & Francis Journals, vol. 18(4), pages 470-477, October.
    • Handle: RePEc:taf:hbhfxx:v:18:y:2017:i:4:p:470-477
    DOI: 10.1080/15427560.2017.1365236
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/15427560.2017.1365236
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/15427560.2017.1365236?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    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:taf:hbhfxx:v:18:y:2017:i:4:p:470-477. 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/hbhf .

    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.