Psychological Optical Illusion http://visualfunhouse.com/perspective-illusions... Psychological Optical Illusion which shows how different cultures perceive the same things in different ways.
A Risk Perception Primer: A Narrative Research Review of the Risk Perception Literature in Behavioral Accounting and Behavioral Finance http://papers.ssrn.com/sol3/papers.cfm?abstract... Victor Ricciardi. A Risk Perception Primer: A Narrative Research Review of the Risk Perception Literature in Behavioral Accounting and Behavioral Finance. (July 2004). Social Science Research Network Working Paper Series. A significant topic within the behavioral finance literature is the notion of perceived risk pertaining to novice investors (i.e. individuals, finance students) and investment professionals (i.e. financial planners, security analysts). the author reveals the first of its kind thorough review of the academic research studies on perceived risk/risk perception from the disciplines of behavioral accounting since 1975 and behavioral finance since the late 1960s. This literature review incorporates 12 works from behavioral accounting and 71 endeavors from behavioral finance. In addition, the behavioral finance literature review section also includes approximately 10 narrative research reviews from risk perception studies in behavioral economics.
The Psychology of Risk: The Behavioral Finance Perspective by Victor Ricciardi http://www.mrw.interscience.wiley.com/emrw/9780... Victor Ricciardi. The Psychology of Risk: The Behavioral Finance Perspective. HANDBOOK OF FINANCE: VOLUME 2: INVESTMENT MANAGEMENT AND FINANCIAL MANAGEMENT, Frank J. Fabozzi, ed., John Wiley & Sons, pp. 85-111, 2008. Since the mid-1970s, hundreds of academic studies have been conducted in risk perception-oriented research within the social sciences (e.g., nonfinancial areas) across various branches of learning. The academic foundation pertaining to the “psychological aspects”¯ of risk perception studies in behavioral finance, accounting, and economics developed from the earlier works on risky behaviors and hazardous activities. This research on risky and hazardous situations was based on studies performed at Decision Research (an organization founded in 1976 by Paul Slovic) on risk perception documenting specific behavioral risk characteristics from psychology that can be applied within a financial and investment decision-making context.
Risk: Traditional Finance versus Behavioral Finance by Victor Ricciardi http://www.mrw.interscience.wiley.com/emrw/9780... Victor Ricciardi. Risk: Traditional Finance Versus Behavioral Finance. HANDBOOK OF FINANCE: VOLUME 3: VALUATION, FINANCIAL MODELING, AND QUANTITATIVE TOOLS, Frank J. Fabozzi, ed., pp. 11-38, John Wiley & Sons, 2008. Within academic finance, the focal point of traditional (or standard) finance researchers involves the objective nature of risk. In contrast, behavioral finance academics provide an extensive examination in which risk is based on a combination of both subjective and objective factors. The behavioral finance perspective incorporates a qualitative aspect of risk (e.g., the influence of cognitive issues and emotional factors) that is highly significant if on a micro level it is acknowledged that the decision maker is an essential aspect of defining and understanding risk.
