Wednesday, Jul 23, 2014 12:08 pm est

NYU-Poly hosts annual behavioral finance conference

Posted on September 24, 2012 | by Anders Melin

Joseph E. Stiglitz, a 2001 Nobel laureate, addressed the annual meeting of the Academy of Behavioral Finance and Economics at the Polytechnic Institute of NYU last week.

The Academy was founded five years ago to provide a forum dedicated to the exchange of research findings and professional advancement in the field of behavioral finance and economics. The 2012 annual meeting attracted more than 200 researchers and practitioners from all around the globe, who made a total of 100 presentations on their most recent research.

“We are very happy with it,” said Russell Yazdipour, conference co-chair and professor of finance at California State University. “The arrangement has grown each year and is an important forum for researchers in this field to exchange ideas.”

Philip Z. Maymin, assistant professor of finance and risk engineering at NYU-Poly, echoed his colleague’s words.

“This is my favorite conference of the year. Given that the field is so young, it’s embodied by a sense of pioneering that you don’t get in traditional finance,” Maymin said. “Instead of competing, researchers help and support each other.”

Behavioral finance dates back no more than 30 years. Contrary to traditional finance, which is heavily reliant on mathematical models and static assumptions regarding investor rationality and availability of information, the behavioral field emphasizes cognitive psychology and how investors make decisions. Its fundamental assumptions are that all investors are emotional human beings who sometimes make irrational decisions, and not all investors have equal access to information.

During his addres, Stiglitz discussed the topic of reforming finance and economics in the wake of the global financial crisis. The remaining 100 presentations covered topics ranging from information diffusion in the stock market to the correlation between work performance and marital status of American chief executive officers.

“A lot of the topics introduced at this meeting touch on things that directly affect the choices made by individual investors,” said Gregg Fisher, founder and president of investment management firm Gerstein Fisher, after finishing his presentation on the impact of large events, such as the dot-com bubble on investor decisions.

Fisher, who is also an adjunct professor of finance at NYU-Poly, praised the academy’s choice to arrange the conference at the Brooklyn campus-—home to one of the world’s leading financial engineering programs.

Computer science major senior Robert Godlewski was pleased to gain a new outlook on a traditional field through the academy’s presentations.

“I’m interested in getting a master in financial engineering, so getting a fresh perspective on finance, financial engineering and economics is helpful,” Godlewski said.

A version of this article appeared in the Sept. 24 print edition. Anders Melin is a contributing writer. Email her at university@nyunews.com.

Comments

CLOSE [x]
CLOSE [x]
CLOSE [x]
profile portrait
Felipe De La Hoz

Multimedia Editor | Felipe De La Hoz is a Colombian national studying journalism at the College of Arts and Sciences. Having been born in Colombia and raised in the United States, Mexico and Brazil, Felipe is a trilingual travel aficionado and enjoys working in varied and difficult environments. Apart from his photography, Felipe enjoys investigative reporting and interviews, interviewing the likes of Colombian ex-M-19 guerrilla fighters and controversial politician Jimmy McMillan. He has covered everything from governmental conferences to full-blown riots, as well as portraiture shoots and dining photography. Having worked under Brazilian photojournalists for Reuters and AFP, Felipe hopes to one day work on demanding journalistic projects and contribute to the global news cycle.

AS
Ann Schmidt

News Editor | Ann is a liberal studies sophomore who lived in Florence during her freshman year. She plans on double-majoring in journalism and political science and is always busy. She is constantly making lists and she loves to laugh.

 

DY
Daniel Yeom

Daniel started at the Features desk of WSN last Spring, writing restaurant reviews whilst indulging on free food and consequently getting fat. Last Fall, he was the dining editor, and he this semester he is senior editor. Daniel is in Gallatin (living the dream) studying Food & Travel Narratives, incorporating aspects of Food Studies, Journalism, and Media, Culture, and Communication. He loves food more than life itself.

Hannah Luu

Deputy Multimedia Editor | Hannah Luu is a ridiculously great Deputy Multimedia Editor. She is a sophomore from Northern California. If you think Northern California means San Francisco you might need to closely examine a map. She is passionate about NPR and being half Asian.

CLOSE [x]
  • How to join:

    The Washington Square News holds open weekly budget meetings at its office located at 838 Broadway every Sunday. All are welcome to attend, no matter your background in journalism, writing, or reporting. Specific times for meetings by desk are listed below. If you wish to talk to an editor before you attend, feel free to check out the Staff page.

    NEWS FEATURES MULTIMEDIA SPORTS ARTS OPINION
    5 P.M. 6 P.M. 6 P.M. 6:30 P.M. 6:30 P.M. 7 P.M.

    Applying for an editor position: Applications for editor positions during the fall or spring semesters are available twice each academic year and can be found here when posted. Applications for the Fall 2012 semester are closed, but check back for Spring 2013. Those who wish to apply are urged to publish pieces in the newspaper and contact current editors for shadowing.

    History of the Washington Square News:

    The Washington Square News is the official daily student newspaper of New York University and serves the NYU, Greenwich Village, and East Village communities. Founded as an independent newspaper in 1973, the WSN allows its undergraduate writers and photographers to cover campus and city news and continues to grow its strong body of award-winning journalists and photographers.

  • The WSN has a circulation of about 60,000 and can be found in over a hundred purple bins distributed throughout campus. It is published Monday through Thursday during the fall and spring semesters and online on Friday, with additional special issues published in the summer. The newspaper recently revamped its website during the Fall 2012 semester.

    Like few campus newspapers in the country, the paper is editorially and financially independent from the university and is solely responsible for selling advertisements to fund its production. The WSN, including its senior staff, is run solely by current undergraduate students and the business-division is largely student-operated as well.

    A Board of Directors comprised of alumni, NYU professors and working news media professionals serves as advisors to the paper. Board members have no control in the WSN's editorial policy or newsroom operations. Alumni of the newspaper are established and leading journalists in such news organizations as The New York Times, The Wall Street Journal, NBC news, ABC news, Fox News, and USA Today.

    Next