Speaker
Description
This paper provides a comprehensive overview of behavioral finance literature, focusing on key contributions and notable advances over the past 25 years. Behavioral finance has challenged the classical paradigm of efficient markets and rational agents and has shaped the psychological perspective of investment strategies. The review was based on the search for English-language articles in Web of Science database and the use of Biblioshiny software. The findings show a diversity of topics, ranging from the contrarian investor behavior to the behavioral theories in institutional structures. Recent studies highlight the impact of emotions on investment decisions, hybrid market behavior models, the relationship between behavioral finance (BeFi) and digital assets in decentralized financial markets (DeFi), neurofinance and the integration of artificial intelligence in stock market computing. The three publications with the most visibility are Journal of Behavioral Finance, Journal of Behavioral and Experimental Finance and Review of Behavioral Finance. The article also identifies the main opportunities for future research by extending cross-cultural studies and redefining the design of behavioral principles in financial education. In conclusion, behavioral finance is a rapidly growing field of research with great potential to redefine the understanding of stock markets through an integrated approach combining finance, psychology and technology.
