INVESTMENTS | BODIE, KANE, MARCUSCopyright 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/IrwinCHAPTER 12Behavioral Finance and Technical Analysis行为金融与技术分析INVESTMENTS | BODIE, KANE, MARCUS12- 2Behavioral Finance行为金融Conventional Finance 传统金融 Prices are correct; equal to intrinsic value. 资产价格正确时等于其内在价值 Resources are allocated efficiently. 资源被正确的分配 Consistent with EMH 与有效市场假说一致Behavioral Finance行为金融 What if investors dont behave rationally? 行为金融研究:如果投资者不够理性怎么办?INVESTMENTS