Behavioral Capital Asset Pricing Theory

An introduction to probability theory and its applications

1958 • 31,109 citations

Judgment under Uncertainty: Heuristics and Biases

1975 • 23,866 citations

The Cross‐Section of Expected Stock Returns

1992 • 15,031 citations

Continuous Auctions and Insider Trading

1985 • 9,651 citations

A Theory of the Term Structure of Interest Rates

1985 • 8,604 citations

Does the Stock Market Overreact?

1985 • 7,120 citations

Option pricing: A simplified approach

1979 • 6,128 citations

The relationship between return and market value of common stocks

1981 • 6,052 citations

Noise Trader Risk in Financial Markets

1990 • 6,029 citations

Judgment Under Uncertainty: Heuristics and Biases.

1984 • 5,967 citations

The equity premium: A puzzle

1985 • 5,686 citations

Stock Market Prices Do Not Follow Random Walks: Evidence from a Simple Specification Test

1988 • 3,715 citations

Belief in the law of small numbers.

1971 • 3,177 citations

Permanent and Temporary Components of Stock Prices

1988 • 3,149 citations

The Relation Between Price Changes and Trading Volume: A Survey

1987 • 2,469 citations

Stock Prices, Earnings, and Expected Dividends

1988 • 2,383 citations

Further Evidence On Investor Overreaction and Stock Market Seasonality

1987 • 2,330 citations

Positive Feedback Investment Strategies and Destabilizing Rational Speculation

1990 • 2,212 citations

The Variation of Economic Risk Premiums

1991 • 1,745 citations

The relationship between earnings' yield, market value and return for NYSE common stocks

1983 • 1,692 citations

The hot hand in basketball: On the misperception of random sequences

1985 • 1,633 citations

Investor Sentiment and the Closed-End Fund Puzzle

1991 • 1,422 citations

The Present-Value Relation: Tests Based on Implied Variance Bounds

1981 • 1,402 citations

Stock Prices and Volume

1992 • 1,388 citations

Special Information and Insider Trading

1974 • 1,307 citations

Insiders' profits, costs of trading, and market efficiency

1986 • 1,263 citations

Confidence in judgment: Persistence of the illusion of validity.

1978 • 1,174 citations

Does the Stock Market Rationally Reflect Fundamental Values?

1986 • 1,071 citations

The Crash of ʼ87: Was It Expected? The Evidence from Options Markets

1991 • 940 citations

Measuring abnormal performance

1992 • 864 citations

Stock Prices and Social Dynamics

1984 • 851 citations

Existence of Equilibrium of Plans, Prices, and Price Expectations in a Sequence of Markets

1972 • 737 citations

Do Security Analysts Overreact

1990 • 735 citations

The Informational Content of Implied Volatility

1993 • 691 citations

Evolution and market behavior

1992 • 584 citations

A Theory of Trading Volume

1986 • 565 citations

Nonstationary expected returns

1989 • 512 citations

Dividend variability and variance bounds tests for the rationality of stock market prices

1983 • 456 citations

The Buying and Selling Behavior of Individual Investors at the Turn of the Year

1988 • 439 citations

IMPLEMENTING ARROW-DEBREU EQUILIBRIA BY CONTINUOUS TRADING OF FEW LONG-LIVED SECURITIES

2005 • 370 citations

Divergence of Opinion in Complete Markets: A Note

1985 • 341 citations

Risk and return

1984 • 330 citations

Do Biases in Probability Judgment Matter in Markets? Experimental Evidence

1987 • 329 citations

Does the Basketball Market Believe in the 'Hot Hand,'?

1989 • 316 citations

The Size and Incidence of the Losses from Noise Trading

1989 • 311 citations

Bubbles, Fads and Stock Price Volatility Tests: A Partial Evaluation

1988 • 295 citations

Overreactions in the Options Market

1989 • 271 citations

Anomalies: A Mean-Reverting Walk Down Wall Street

1989 • 262 citations

The Free Lunch in Currency Hedging: Implications for Investment Policy and Peformance Standards

1988 • 243 citations

The “Fallacy” of Maximizing the Geometric Mean in Long Sequences of Investing or Gambling

1971 • 233 citations

A direct test of the cognitive bias theory of share price reversals

1990 • 218 citations

Are the Reports of Beta's Death Premature?

1993 • 213 citations

How Useful is the Sentiment Index?

1988 • 203 citations

The term structure of real interest rates and the Cox, Ingersoll, and Ross model

1994 • 199 citations

On Divergence of Opinion and Imperfections in Capital Markets

1983 • 187 citations

Market "Efficiency" in a Market with Heterogeneous Information

1978 • 156 citations

A Test of the Cox, Ingersoll, and Ross Model of the Term Structure

1993 • 138 citations

The January Size Effect: Anomaly or Risk Mismeasurement?

1986 • 133 citations

A Theory of Noise Trading in Securities Markets

1988 • 127 citations

Anomalies in Financial Economics: Blueprint for Change?

1986 • 107 citations

Good companies, bad stocks

1989 • 92 citations

Real and Nominal Interest Rates under Uncertainty: The Fisher Theorem and the Term Structure

1983 • 89 citations

Information Diversity and Market Behavior

1982 • 84 citations

Inflation Forecast Errors and Time Variation in Term Premia

1992 • 83 citations

The Multinomial Option Pricing Model and Its Brownian and Poisson Limits

1989 • 80 citations

OPTIMAL SPECULATION AGAINST AN EFFICIENT MARKET*

1976 • 63 citations

Testing Financial Market Equilibrium under Asymmetric Information

1992 • 54 citations

Inferior Forecasters, Cycles, and the Efficient-Markets Hypothesis: A Comment

1984 • 32 citations

Stock Price Reversals and Overreaction to News Events: A Survey of Theory and Evidence

1989 • 26 citations

Do we really know that financial markets are efficient?

1986 • 18 citations

State Preference and the Riskless Interest Rate: A Markov Model of Capital Markets

1979 • 17 citations

On the combinatorial structure of Bayesian learning with imperfect information

1981 • 3 citations

Markov chains, imperfect state information, and Bayesian learning

1983 • 2 citations

Deleted Work

1955 • 0 citations