Behavioral finance in Joseph de la Vega's confusion de confusiones

T. Corzo Santamaría, M. Prat, E. Vaquero Lafuente

Journal of Behavioral Finance Vol. 15, nº. 4, pp. 341 - 350

Resumen:

In this paper, we link Joseph de la Vega's work Confusion de Confusiones, written in 1688, with current behavioral finance and propose that Vega be considered the first precursor of modern behavioral finance. In addition to describing excessive trading, overreaction and underreaction, and the disposition effect, Vega vividly portrays how investors behaved 300 years ago and includes interesting documentation on investor biases, such as herding, overconfidence, and regret aversion.

Palabras Clave: Behavioral finance; Investor biases; Stock market history; Overconfidence; Herding; Regret aversion

Índice de impacto JCR y cuartil WoS: 0,333 - Q3 (2014); 1,700 - Q2 (2023)

Referencia DOI: https://doi.org/10.1080/15427560.2014.968722

Publicado en papel: Octubre 2014.

Publicado on-line: Diciembre 2014.

Cita:
T. Corzo Santamaría, M. Prat, E. Vaquero Lafuente, Behavioral finance in Joseph de la Vega's confusion de confusiones. Journal of Behavioral Finance. Vol. 15, nº. 4, pp. 341 - 350, Octubre 2014. [Online: Diciembre 2014]