Behavioural finance (also referred to in German, more rarely behavior-oriented finance)

As a special field of financial psychology, the attempt to explain the (market) psychological influences on all actions in the financial market and thus also on price developments. – It should be emphasized that often enough supposedly “psychological” explanations turn out to be disguised, not immediately recognizable rational decisions of market participants. Above all, time delays (any time-delay that exists between two related things happening; more specific: the time lag between when circumstances changed in the economy and action is taken by the market participants) as well as corresponding expectations have to be mentioned here. – See Animal Spirits, Astro Forecast, Valuability, Euro Breakup Index, Expectation Theory, New, Fibonacci Sequence, Financial Mathematics, Financial Psychology, Fear Thesis, January Effect, Halloween Rule, Calendar Effect, Monday Effect, Feedback Loop, Sell-in-May Effect, Shitstorm, Small Cap Effect, Theorists, Conspiracy Theories, Predictability, Foreshadow Effects, Fortune Telling Money, Exchange Rate Trend, Inexplicable, Christmas Enlivenment. – Cf. ECB Monthly Bulletin, November 2008, pp. 99 f. (explaining inflated asset prices; references):

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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