The Institute of Behavioral Finance was established to study the impact of psychology on investor decision-making. Through its major publication, The Journal of Behavioral Finance, and sponsored conferences the Institute has been at the forefront of new research in Behavioral Finance. The Institute's research areas include heuristic biases, laboratory experiments on the formation of bubbles, over-and-under-reaction, and affect theory. The goal of the Institute is to continue to address important new issues in Behavioral Finance by involving interested practitioners and academics in many fields, including economics, cognitive and group psychology, anthropology, sociology, and neuro-economics. By incorporating the work of knowledgeable researchers in varied disciplines the Institute tries to find better explanations for both investor decision-making and market anomalies that have been noted but not explained for several generations. The Journal of Behavioral Finance offers penetrating insights into the performance of today's financial markets and is an indispensable resource for academics and practitioners who want to utilize behavioral concepts to understand the "how, what, when and where" of investing. Volume 10, Number 3, 2009 Titles Commentary: A Better Mousetrap: Economics, Psychology, Blind Spots and Reform John Smythies - Center for Brain and Cognition, University of California, San Diego Are Equally Likely Outcomes Perceived as Equally Likely? Moshe Levy - Hebrew University Golan Benita - Hebrew University Does the Consciousness of the Disposition Effect Increase the Equity Premium? Patrick Roger - Strasbourg University, EM Strasbourg Business School, LARGE Research Center Disposition Effect and Flippers in the Bursa Malaysia Fennee Chong - University Technology MARA Dimensionality of Risk Perception: Factors Affecting Consumer Understanding and Evaluation of Financial Risk Ivo Vlaev - University College London Nick Chater – University College London Neil Stewart - University of Warwick Time Variation in Analyst Optimism: An Investor Sentiment Explanation Hong Qian - Oakland University

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