Finance is in the midst of a paradigm shift, from a neoclassical based framework to a psychologically based framework …. Behavioral finance is the application of psychology to financial decision making and financial markets. Behavioralizing finance … in behavioral finance, and identifies both its strengths and weaknesses. In doing so, it identifies possible directions …

General financial models have become workhorse models in the fields of macroeconomics and finance. These models have … and finance is the well accepted fact that models with a representative agent and without financial frictions yield … fields of macroeconomics and finance in the future depends upon the frontier research in general equilibrium today. Over the …

management while ignoring and contradicting contemporaneous developments in finance. This has distorted the accounting, tax and … finance lessons of Black (1980) and Tepper (1981) to "cash balance" pension plans, concluding that these plans can best serve … investing and smooth away the risks incurred without causing bias. Modern finance may correct this and inform future actuarial …