Household Finance
An Introduction to Individual Financial Behavior
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A termék adatai:
- Kiadó OUP USA
- Megjelenés dátuma 2024. augusztus 29.
- ISBN 9780197699867
- Kötéstípus Puhakötés
- Terjedelem448 oldal
- Méret 234x157x33 mm
- Súly 658 g
- Nyelv angol 566
Kategóriák
Rövid leírás:
There are many financial decisions that we all must make during our lives, such as how much to save from income
on a regular basis in order to fund a comfortable retirement; when insurance and credit are judicious (and when
they should be avoided); how much risk to assume in our investment portfolios; what investment mistakes should
we try to avoid when we invest on our own and when it might be sensible to delegate our investments. These
decisions and the toolkit to approach them fall under the rubric of household finance. This book, the first broad
but accessible treatment of household finance, addresses them in a systematic but entertaining fashion.
Hosszú leírás:
Household Finance: An Introduction to Individual Financial Behavior speaks to both how people should and how people actually do make financial decisions, and how these financial decisions contribute to and detract from their well-being. Households must plan over long but finite horizons, have important nontraded assets, notably human capital; hold illiquid assets, particularly housing; face constraints on the ability to borrow; and are subject to complex taxation. Some households manage these goals and challenges independently, while still others delegate portfolio management. Household financial problems have many special features that differ from firms, investors, or the functioning of markets.
Author Richard Deaves covers the broad range of choices and goals in household finance both in the normative sense (i.e., what is best) based on conventional financial theory and in the positive sense (i.e., what is actually done) based on observing actual behavior. While modern finance builds models of behavior and markets based on strong assumptions such as the rationality of decision-makers, behavioral finance is based on the view that sometimes people behave in a less-than-fully-rational fashion when making financial decisions. Deaves addresses important issues and puzzles in the field such as financial illiteracy, whether education and advice can improve outcomes, intertemporal consumption optimization, consumption smoothing, optimal dynamic risk-taking, the stock market participation puzzle, the credit card debt puzzle, anomalous insurance decisions, mortgage choices, skewness preference, investments driven by availability and attention, local and home bias, the disposition effect, optimal pension design and improving outcomes through nudging in a thoroughly international approach.
?This book unravels the mysteries of household finance, shedding light on both the logical and the surprising behaviors that guide our choices. Whether you're a finance student, a seasoned professor, or just someone keen to master your money, this book is your friendly guide through the intricate maze of today's financial world. It's not just a book?it's an adventure into the psychology of decision-making in our complex financial era. A must-read that's as engaging as it is enlightening!? Quang Nguyen, Middlesex University
Tartalomjegyzék:
INTRODUCTION: BEHAVIOR
ECONOMICS
PSYCHOLOGY
TIME
RISK
LOSS
PLANNERS
SAVERS
ALLOCATORS
RISK TAKERS
HEDGERS
DEBTORS
INVESTORS
PERFORMERS
DELEGATORS
FOLLOWERS
CONCLUSION: LESSONS LEARNED