Теоретичні аспекти дослідження поведінкових фінансів
Theoretical Aspects of Behavioral Finance Research

Summary/Abstract: The article defines the purpose of the research as the theoretical substantiation of the essence and evolution of behavioral finance as an important field of modern financial science. The relevance of the topic is determined by the need to reconsider traditional approaches to the financial behavior of economic agents in the context of increasing risks, financial market instability, and globalization processes. The study emphasizes the importance of analyzing psychological, cognitive, and social factors that influence decision-making in the financial sphere to develop more effective mechanisms for market regulation and to enhance the stability of financial systems. The research analyzes the historical origins and key stages in the development of behavioral finance as an interdisciplinary field of knowledge that integrates economics, psychology, and sociology. The main scientific concepts and theories are examined, including prospect theory, the hypothesis of market inefficiency, and the concepts of irrational behavior and behavioral anomalies. The contribution of prominent scholars such as D. Kahneman, A. Tversky, and R. Shiller to the development of behavioral finance is highlighted, as well as methodological approaches to studying the influence of emotional and cognitive factors on investor behavior and financial markets in general. The practical significance of behavioral finance for improving market fluctuation forecasting and developing effective investment strategies is also outlined. The study concludes that behavioral finance is a valuable tool for explaining deviations from classical financial models based on the assumption of rational economic agents. It is demonstrated that applying behavioral approaches deepens the understanding of the motives and mechanisms behind financial decisionmaking, helps to identify potential risks in the markets, and enhances the effectiveness of regulatory policies. The findings of the research are of both theoretical and practical importance, providing a foundation for further scientific developments and the formulation of practical recommendations to minimize the negative impact of behavioral biases in the financial sphere.

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