Please use this identifier to cite or link to this item: https://scidar.kg.ac.rs/handle/123456789/13336
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dc.rights.licenseopenAccess-
dc.contributor.authorLeković, Miljan-
dc.date.accessioned2021-06-16T09:25:18Z-
dc.date.available2021-06-16T09:25:18Z-
dc.date.issued2019-
dc.identifier.citationLeković, M. [2019]. Bihejvioralna portfolio teorija i bihejvioralni model vrednovanja aktive kao alternativa učenju standardnih finansija. Ekonomski horizonti, 21(3), 255-279.en_US
dc.identifier.issn1450-863Xen_US
dc.identifier.urihttps://scidar.kg.ac.rs/handle/123456789/13336-
dc.description.abstractThe growing gap between standard finance theory and practice has made way for the emergence of new theories and the development of new asset-pricing models. Behavioral economists have seized this opportunity to promote their ideas and thus develop behavioral finance theory, as an antithesis to standard finance theory; behavioral portfolio theory, as an antithesis to modern portfolio theory, and a behavioral asset-pricing model, as an antithesis to standard financial asset-pricing models. The paper aims to illustrate these new theoretical frameworks, given the absence of research at the national level relating to behavioral portfolio theory and the behavioral asset-pricing model. The objective is to explain the key features of behavioral portfolio theory and the behavioral asset-pricing model by means of conducting a comparative analysis of the mentioned theory and its model and standard financial concepts and models. By using a qualitative research methodology, the author concludes that, by incorporating psychological factors, behavioral portfolio theory and the behavioral asset-pricing model complement conventional financial concepts and bring finance theory closer to reality. It is, however, still too early and exaggerated to a certain extent to speak about the superiority of these new theoretical frameworks in relation to modern portfolio theory and conventional asset-pricing models, which is also the main finding of the research study.en_US
dc.language.isoenen_US
dc.publisherFaculty of Economics, University of Kragujevac, Kragujevac, The Republic of Serbiaen_US
dc.rightsinfo:eu-repo/semantics/openAccess-
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/-
dc.sourceEkonomski horizontien_US
dc.subjectbehavioral financeen_US
dc.subjectpsychological factorsen_US
dc.subjectmental accounten_US
dc.subjectutilitarian benefitsen_US
dc.subjectexpressive benefitsen_US
dc.subjectemotional benefitsen_US
dc.titleBehavioral portfolio theory and behavioral asset pricing model as an alternative to standard finance conceptsen_US
dc.typearticleen_US
dc.description.versionPublisheden_US
dc.identifier.doi10.5937/ekonhor1903263Len_US
dc.type.versionPublishedVersionen_US
Appears in Collections:Faculty of Economics, Kragujevac

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