International College of Economics and Finance

Research Seminar

November 23 at 4.40 pm, room 3118, ICEF held the Research Seminar
Speaker: Doron Kliger (University of Haifa)

On Friday, November 23 at 4.40 pm,International College of Economics and Financen held a Research Seminar.
Speaker:Doron Kliger (University of Haifa)
Theme: «The Sunlight Premium: Weather, Mood, and Economic Behavior; Financial Market Evidence»
Venue:Shabolovka st. 26, building 3, room 3118

Abstract: The talk integrates a series of research projects employing financial market information to shed light on investors' underlying decision making. The main data employed consists of index options whose prices serve as building blocks for (i) eliciting investors' risk aversion; (ii) fitting 'rational' and 'behavioral' economic modeling approaches (most prominently, Expected Utility and Prospect Theory, respectively); (iii) comparing the models' goodness-of-fit; and, lastly, (iv) testing for the descriptive ability of time varying, behavioral, decision making processes. Towards the latter, a framework of the decision making process is sketched and empirical analysis is conducted and discussed.

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