The Johns Hopkins University Department of Psychology The Psychology of Decision-Making: Behavioral Finance (Psychology 200.355) Lawrence J. Raifman‚ J.D.‚ Ph.D. Fall Semester 2001 Phone: 410-433-1297 E-mail: ljraifman@home.com Office Hours: Tuesdays 1-3 p.m.; 232 Ames Hall Teaching Assistant: Rebecca Piorkowski Meeting Time: Tuesdays 3-5 p.m.‚ Shaffer Hall‚ room 303 Course Overview What does psychology have to offer stock market investors‚ portfolio managers‚ and finance
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ABSTRACT The purpose of this paper is to discuss and critically evaluate the theory and empirical evidence relating to the ‘law of one price’ and the theory of purchasing power parity (PPP). Section I explains the concept underpinning the PPP and the law of one price. Section II involves a critical evaluation of the theory and empirical evidence relating to Section I. Purchasing Power Parity and the Law of One Price PPP doctrine has a long history in economics and was propounded in 1918 by the
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= Length a squared + length b Squared C squared = A squared + B squared B squared = C squared - a squared B squared = the square root of 7 squared - 4.45 squared B = 5.4cm Volume of a single serve = 170 cm cubed Volume of triangular prism = B x h divided by two Height = Volume divided by B x h divided by two Height = 170 divided by 5.4 x 4.45 divided by two Height = 14.15cm
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cinematography and exotic camera angles to give the audience an in-depth view/perspective of the exchanges and dialogue going on between characters; the leveraging of character’s movements to control who and where the audience focused on; and the use of both triangular composition and chiaroscuro lighting to provide a sense of mystique to the audience.
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Chapter 1 Prices‚ Discount Factors‚ and Arbitrage STARTING WITH COUPON BONDS • Three aspects: In May 2010 the U.S. Treasury sold a bond with – a coupon rate of 2 % and – a maturity date of May 31‚ 2015 – a payment frequency of two a year‚ six months apart s of May 31‚ 2015” • This bond is called “ Coupon rate 9/5/2013 Coupon frequency‚ “s” is for “semi‐annual” L. Wu maturity 2 Cash Flow of the Bond • The unit for bond purchasing is $1‚000. • Suppose that an investor purchases $1m face
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Subject Review Questions and Solutions 1. Capital markets may operate under auction‚ over-the-counter or intermediated modes. Distinguish between these types of operation. Auction markets require the financial asset to be identical in terms of risk and cashflow & liquidity – the assets are then traded on a centralised exchange where all parties know prices – an example is the stock exchange – each share in a particular company is identical to all the others therefore you can have an auction
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NBER WORKING PAPER SERIES THE PURCHASING POWER PARITY DEBATE Alan M. Taylor Mark P. Taylor Working Paper 10607 http://www.nber.org/papers/w10607 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge‚ MA 02138 June 2004 Forthcoming in Journal of Economic Perspectives. For their helpful comments we thank‚ without implicating‚ Menzie Chinn‚ Richard Clarida‚ Bradford DeLong‚ Charles Engel‚ James Hines‚ James Lothian‚ Bennett McCallum‚ Michael Melvin‚ Peter Neary‚ Maurice Obstfeld
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what they contributed to our lives‚ this single event changed so much history that would have never happened if this did not occur. Slaves were brought to the US to satisfy people’s wishes for free labor. Being the best type of labor the system of Triangular Trade did make sense‚ even
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617-552-0883 Email: muravyev@bc.edu Lectures: Thursday‚ 7pm‚ Fulton 150 Course Description The course is a rigorous‚ quantitative introduction to portfolio choice and financial asset valuation. The main topics of the course are arbitrage‚ portfolio selection‚ equilibrium asset pricing (CAPM)‚ fixed income securities‚ and derivative pricing. You are expected to understand valuation formulas and be able to apply them to new problems. The appropriate tools necessary for solving
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Flat Taxation is Equal Taxation Tax rates in America have been changed and reformed to try and meet the needs of the current economy‚ or to make a politicians look good. Recent questions have been asked about whether we should reform the entire style of tax rates in America. Future generations are going to feel the burden or benefit from tax choices we make now because it takes time for things of this magnitude to take place. Also it is a possibility that the future generation may need new tax
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