Deception And Self Deception In Capital Markets
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Author | : Joshua D. Coval |
Publisher | : |
Total Pages | : |
Release | : 2009 |
Genre | : |
ISBN | : |
We argue that self-deception underlies various aspects of the behavior of investors and of prices in capital markets. We examine the implications of self-deception for investor overconfidence, and how firms and financial institutions can exploit the overconfidence of investors in a predatory fashion. These ideas link self-deception to deception by others. We also examine how investor self-deception and overconfidence can affect financial reporting and disclosure policy.
Author | : Manuel P. Asensio |
Publisher | : John Wiley & Sons |
Total Pages | : 288 |
Release | : 2002-03-14 |
Genre | : Business & Economics |
ISBN | : 0471437115 |
A revealing expose by one of today's most successful andcontroversial speculators Short-selling, or betting on a drop in the price of a stock, hasbeen described by its many opponents as everything from shady todownright evil. And no one today personifies the practice betterthan short-seller extraordinaire Manuel Asensio. Though he has beenbranded in the press as a market saboteur, Asensio staunchlydefends his practices, claiming that, above all, he is out toexpose rampant fraud being perpetrated by unscrupulous stockpromoters. Is Asensio a "Minion of Satan" as they say in the onlinechat rooms, or is he really a misunderstood guardian angel of freemarket capitalism? In this tell-all account, Asensio offers readersa lively narrative, peppered with unforgettable anecdotes such asthe story of why he shorted Diana, General Nutrition, Solv-Ex,Turbodyne, and many other high-profile stocks. And he armsinvestors with proven techniques for reducing the inherent risks ofshort-selling while maximizing returns. Clearly, Asensio invitesboth praise and criticism, but his methodology works, and SoldShort is a compelling and fascinating read about this oftenmysterious side of the market--and one of the most controversialindividuals behind it. Manuel Asensio (New York, NY) is founder and Chairman of Asensio& Co., Inc. He has over twenty years of corporate finance andresearch experience. He has been featured in Business Week, theWall Street Journal, Barron's, Fortune, Forbes, Worth, the New YorkTimes, New York magazine, and the New Republic, among other leadingnational and international publications.
Author | : Laura Gruss |
Publisher | : |
Total Pages | : 23 |
Release | : 2010 |
Genre | : Deception |
ISBN | : |
Author | : Alfred R. Mele |
Publisher | : Princeton University Press |
Total Pages | : 161 |
Release | : 2001 |
Genre | : Philosophy |
ISBN | : 0691057451 |
Self-deception raises complex questions about the nature of belief and the structure of the human mind. In this book, Alfred Mele addresses four of the most critical of these questions: What is it to deceive oneself? How do we deceive ourselves? Why do we deceive ourselves? Is self-deception really possible? Drawing on cutting-edge empirical research on everyday reasoning and biases, Mele takes issue with commonplace attempts to equate the processes of self-deception with those of stereotypical interpersonal deception. Such attempts, he demonstrates, are fundamentally misguided, particularly in the assumption that self-deception is intentional. In their place, Mele proposes a compelling, empirically informed account of the motivational causes of biased beliefs. At the heart of this theory is an appreciation of how emotion and motivation may, without our knowing it, bias our assessment of evidence for beliefs. Highlighting motivation and emotion, Mele develops a pair of approaches for explaining the two forms of self-deception: the "straight" form, in which we believe what we want to be true, and the "twisted" form, in which we believe what we wish to be false. Underlying Mele's work is an abiding interest in understanding and explaining the behavior of real human beings. The result is a comprehensive, elegant, empirically grounded theory of everyday self-deception that should engage philosophers and social scientists alike.
Author | : Daniel Goleman |
Publisher | : Simon and Schuster |
Total Pages | : 294 |
Release | : 1985 |
Genre | : Psychology |
ISBN | : 0684831074 |
A penetrating analysis of the dark corners of human deception, enlivened by intriguing case histories and experiments.
Author | : David M. Boush |
Publisher | : Routledge |
Total Pages | : 258 |
Release | : 2015-12-22 |
Genre | : Business & Economics |
ISBN | : 1136648690 |
This is the first scholarly book to fully address the topics of the psychology of deceptive persuasion in the marketplace and consumer self-protection. Deception permeates the American marketplace. Deceptive marketing harms consumers’ health, welfare and financial resources, reduces people’s privacy and self-esteem, and ultimately undermines trust in society. Individual consumers must try to protect themselves from marketers’ misleading communications by acquiring personal marketplace deception-protection skills that go beyond reliance on legal or regulatory protections. Understanding the psychology of deceptive persuasion and consumer self-protection should be a central goal for future consumer behavior research. The authors explore these questions. What makes persuasive communications misleading and deceptive? How do marketing managers decide to prevent or practice deception in planning their campaigns? What skills must consumers acquire to effectively cope with marketers’ deception tactics? What does research tell us about how people detect, neutralize and resist misleading persuasion attempts? What does research suggest about how to teach marketplace deception protection skills to adolescents and adults? Chapters cover theoretical perspectives on deceptive persuasion; different types of deception tactics; how deception-minded marketers think; prior research on how people cope with deceptiveness; the nature of marketplace deception protection skills; how people develop deception protection skills in adolescence and adulthood; prior research on teaching consumers marketplace deception protection skills; and societal issues such as regulatory frontiers, societal trust, and consumer education practices. This unique book is intended for scholars and researchers. It should be essential reading for upper level and graduate courses in consumer behavior, social psychology, communication, and marketing. Marketing practitioners and marketplace regulators will find it stimulating and authoritative, as will social scientists and educators who are concerned with consumer welfare.
Author | : Caroline Gerschlager |
Publisher | : Springer Science & Business Media |
Total Pages | : 254 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 146150905X |
Exchange is a pervasive concept in everyday life, affecting phenomena as diverse as interpersonal relationships and market transactions. In addition, economists have used the concept in a highly specific and clearly delineated way. Against this background, Expanding the Economic Concept of Exchange sets out to expand the concept of exchange by crossing the boundaries laid down by economists and by examining the function played by deceptions, self-deceptions and illusions. The main motivation for expanding the concept of exchange was the realization that in the prototypical economic model deception is not taken into account. Hence, economists traditionally regard deception as some sort of irrationality, as a flaw in an otherwise perfectly rational process. Authors represented in this volume take a different approach examining deception as a constituent quality of exchange. This is shown by the contributions drawing on recent developments in economic theory, by those with an anthropological orientation, as well as by a contribution referring specifically to Adam Smith. An interrogation into deception is long overdue in economics. This volume prepares the ground for and makes the first contributions to explicitly acknowledging deceptions, self-deceptions and illusions as fundamental dimensions allowing us as economists to further research and develop the concept of change. A particular and perhaps unexpected focus of this volume lies on anthropology, because economics can clearly benefit from integrating selected results on deception from outside its expanding domain. It is primarily targeted at economists interested in institutional aspects of exchanges and social theory. In addition, the topic will find interested readers from anthropology, cultural studies, science studies, philosophy.
Author | : The Arbinger Institute |
Publisher | : Berrett-Koehler Publishers |
Total Pages | : 193 |
Release | : 2002 |
Genre | : Business & Economics |
ISBN | : 1576755029 |
Explains why self-deception is at the heart of many leadership problems, identifying destructive patterns that undermine the successes of potentially excellent professionals while revealing how to improve teamwork, communication, and motivation. Reprint.
Author | : Gregg A. Ten Elshof |
Publisher | : Wm. B. Eerdmans Publishing |
Total Pages | : 160 |
Release | : 2009-06-22 |
Genre | : Religion |
ISBN | : 1467439703 |
Think you’ve ever deceived yourself? Then this book is for you. Think you’ve never deceived yourself? Then this book is really for you.
Author | : Frank Partnoy |
Publisher | : Profile Books |
Total Pages | : 493 |
Release | : 2010-09-03 |
Genre | : Business & Economics |
ISBN | : 1847651372 |
First published in 2003, Infectious Greed examined how our greed-driven culture led to the generation of massive profits, but also to unprecedented levels of risk, widespread deception, and high profile disasters like Enron and Worldcom. In the wake of the 2008-9 financial crisis, Partnoy's analysis of how major companies obscured the reality from shareholders by disguising risk and side-stepping regulations, is more pertinent than ever. Beginning in the mid-1980s with the introduction of the first proto-derivatives, Partnoy gives an intelligent and thorough account of the dangerous manipulations that have and continue to come to light.