Human judgments are systematically affected by various biases and distortions. The main goal of our study is to analyze the effects of five well-documented behavioral biases — namely, the disposition effect, herd behavior, availability heuristic, gambler's fallacy and hot hand fallacy — on...

In this study, I analyze the correlation between stock returns before and after major price shocks. I hypothesize that if a large price move for a given stock takes place after a short period when the stock's price moves in the same direction, then it may indicate that the fundamentals of the...

Soft power is a useful concept of political theory and sociology developed by J.S. Nye Jr. in 1990. However, this concept can be overly abstract and hence somewhat artificial. In particular, this concept has been criticized by other sources and points of view. This paper develops a more complex...