Review from previous edition A truly worthwhile read. Provides a framework to understand the complex world of trading and the trader. For the professional it puts down in print what we have all instinctively understood in the depths of our minds about traders.
John Wall, Managing Director, Global Head, Equity Trading, UBS Investment Bank
Although financial economists have endlessly theorized the decision making of market participants, very few actually asked traders about these decisions. This book captures the authentic voices of professional traders, their theories of risk, and their trading biases. The authors lift the veil of myth that surrounds this version of homo economicus.
Mitchel Abolafia, Associate Professor in Public Administration and Policy, University at Albany
In this unique volume the authors report on an original study of traders' behavior. This is an exciting book that employs a broad social science approach to the study of trading, bringing in perspectives from economics, finance, organizational behavior, and psychology.
Zur Shapira, William Berkley Professor of Management, Stern School of Business, New York University
There is much, much more in this book than can be absorbed in a single reading. It is a pleasure to see true scholarship brought to a topic that is under-researched, yet of great interest. The authors manage to impose coherence on wide-ranging material drawn from financial economics, sociology, psychology, and behavioral science. It is likely to engage bhavioral researchers and finance professinals for years.
Werner De Bondt, Richard Driehaus Professor of Finance at DePaul University, and Director of the Driehaus Center for Behavioral Finance