A complete framework for applications of behavioral finance in private banking, Behavioural Finance for Private Banking considers client needs specific to private banking like personal circumstances, objectives, and attitude to risk. This book includes the theoretical foundations of investment decision-making, an introduction to behavioral biases, an explanation of cultural differences in global business, a guide to asset allocation over the life cycle of the investment, and several case studies to illustrate how can be applied. A must-read for anyone in private banking, this book demonstrates how to satisfy client needs.

Behavioural Finance for Private Banking

Business & Money

Hens, Thorsten

Bachmann, Kremena

Economics

wiley

An essential framework for wealth management using behavioral finance Behavioral Finance for Private Banking provides a complete framework for wealth management tailored to the unique needs of each client. Merging behavioral finance with private banking, this framework helps you gain a greater understanding of your client’s wants, needs, and perspectives to streamline the decision making process. Beginning with the theoretical foundations of investment decision making and behavioral biases, the discussion delves into cultural differences in global business and asset allocation over the life cycle of the investment to help you construct a wealth management strategy catered to each individual’s needs. This new second edition has been updated to include coverage of fintech and neurofinance, an extension of behavioral finance that is beginning to gain traction in the private banking space. Working closely with clients entails deep interpersonal give and take. To be successful, private banking professionals must be as well-versed in behavioral psychology as they are in finance; this intersection is the heart of behavioral finance, and this book provides essential knowledge that can help you better serve your clients’ needs. <ul>
<li>Understand the internal dialogue at work when investment decisions are made</li> <li>Overcome the most common behavioral biases―and watch for your own</li> <li>Learn how fintech and neurofinance impact all aspects of private banking</li> <li>Set up a structured wealth management process that places the client’s needs front and center</li> </ul> Private banking clients demand more than just financial expertise. They want an advisor who truly understands their needs, and can develop and execute the kind of strategy that will help them achieve their goals. Behavioral Finance for Private Banking provides a complete framework alongside insightful discussion to help you become the solution your clients seek.

Behavioral Finance for Private Banking: From the Art of Advice to the Science of Advice (Wiley Finance)

De Giorgi, Enrico G.

Bachmann, Kremena K.

The purpose of this book is to give a sound economic foundation of finance. Finance is a coherent branch of applied economics that is designed to understand financial markets in order to give advice for practical financial decisions. This book argues that for a sound economic foundation of finance the famous general equilibrium model which in its modern form emphasizes the incompleteness of financial markets is well suited. The aim of the book is to demonstrate that financial markets can be meaningfully embedded into a more general system of markets including, for example, commodity markets. The interaction of these markets can be described via the well known notion of a competitive equilibrium. We argue that for a sound foundation this competitive equilibrium should be unique. In a first step we demonstrate that this essential goal cannot of be achieved based only on the rationality principle, i. e. on the assumption utility maximization of some utility function subject to the budget constraint. In particular we show that this important lack of structure is disturbing as well for the case of mean-variance utility functions which are the basis of the Capital Asset Pricing Model, one of the cornerstones of finance. The final goal of our book is to give reasonable restrictions on the agents' utility functions which lead to a well determined financial markets model.

General Equilibrium Foundations of Finance: Structure of Incomplete Markets Models (Theory and Decision Library C, 33)

Pilgrim, Beate

Springer

The purpose of this book is to give a sound economic foundation of finance. Finance is a coherent branch of applied economics that is designed to understand financial markets in order to give advice for practical financial decisions. This book argues that for a sound economic foundation of finance the famous general equilibrium model which in its modern form emphasizes the incompleteness of financial markets is well suited. The aim of the book is to demonstrate that financial markets can be meaningfully embedded into a more general system of markets including, for example, commodity markets. The interaction of these markets can be described via the well known notion of a competitive equilibrium. We argue that for a sound foundation this competitive equilibrium should be unique. In a first step we demonstrate that this essential goal cannot of be achieved based only on the rationality principle, i. e. on the assumption utility maximization of some utility function subject to the budget constraint. In particular we show that this important lack of structure is disturbing as well for the case of mean-variance utility functions which are the basis of the Capital Asset Pricing Model, one of the cornerstones of finance. The final goal of our book is to give reasonable restrictions on the agents' utility functions which lead to a well determined financial markets model.

General Equilibrium Foundations of Finance: Structure of Incomplete Markets Models (Theory and Decision Library C)

This textbook is an elementary introduction to the key topics in mathematical finance and financial economics - two realms of ideas that substantially overlap but are often treated separately from each other. Our goal is to present the highlights in the field, with the emphasis on the financial and economic content of the models, concepts and results. The book provides a novel, unified treatment of the subject by deriving each topic from common fundamental principles and showing the interrelations between the key themes. Although the presentation is fully rigorous, with some rare and clearly marked exceptions, the book restricts itself to the use of only elementary mathematical concepts and techniques. No advanced mathematics (such as stochastic calculus) is used.

Mathematical Financial Economics: A Basic Introduction (Springer Texts in Business and Economics)

Evstigneev, Igor V.

Schenk-Hoppé, Klaus Reiner

Financial economics is a fascinating topic where ideas from economics, mathematics and, most recently, psychology are combined to understand financial markets. This book gives a concise introduction into this field and includes for the first time recent results from behavioral finance that help to understand many puzzles in traditional finance. The book is tailor made for master and PhD students and includes tests and exercises that enable the students to keep track of their progress. Parts of the book can also be used on a bachelor level. Researchers will find it particularly useful as a source for recent results in behavioral finance and decision theory.

Financial Economics: A Concise Introduction to Classical and Behavioral Finance

Rieger, Marc Oliver

Financial economics is a fascinating topic where ideas from economics, mathematics and, most recently, psychology are combined to understand financial markets. This book gives a concise introduction into this field and includes for the first time recent results from behavioral finance that help to understand many puzzles in traditional finance. The book is tailor made for master and PhD students and includes tests and exercises that enable the students to keep track of their progress. Parts of the book can also be used on a bachelor level. Researchers will find it particularly useful as a source for recent results in behavioral finance and decision theory.

Financial Economics: A Concise Introduction to Classical and Behavioral Finance (Springer Texts in Business and Economics)

"This book provides a comprehensive overview of the emerging field of cultural finance. It summarizes research results of cultural differences in financial decision making and on financial markets. Many of the results have been published in leading academic journals over the last ten years but some are presented here for the first time. The book is based on an international survey on risk and time preferences - the INTRA study (International Test of Risk Attitudes), conducted in 53 countries worldwide. Applications to financial markets include the equity premium puzzle, the value premium, dividend payout policies and asset allocations"--

Cultural Finance: A World Map of Risk, Time and Money (World Scientific Finance)

Wang, Mei

World Scientific Publishing Company

See the best price to sell, buy, or rent books by Hens, Thorsten. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Hens, Thorsten

See the best price to sell, buy, or rent books by Hens, Thorsten. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Behavioural Finance for Private Banking

Behavioral Finance for Private Banking: From the Art of Advice to the Science of Advice (Wiley Finance)

General Equilibrium Foundations of Finance: Structure of Incomplete Markets Models (Theory and Decision Library C, 33)

General Equilibrium Foundations of Finance: Structure of Incomplete Markets Models (Theory and Decision Library C)

Mathematical Financial Economics: A Basic Introduction (Springer Texts in Business and Economics)

Financial Economics: A Concise Introduction to Classical and Behavioral Finance

Financial Economics: A Concise Introduction to Classical and Behavioral Finance (Springer Texts in Business and Economics)

Financial Economics: A Concise Introduction to Classical and Behavioral Finance (Springer Texts in Business and Economics)

Cultural Finance: A World Map of Risk, Time and Money (World Scientific Finance)