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Abstract
In finance, academic research on behavior started in the 1980s. The use of behavioral finance concepts in institutional investing took hold in the 1990s. Behavioral concepts guided the creation of models that used earnings expectation data beginning in 1990. It took several more years before behavioral finance started to gain traction with institutional investors. Brian Bruce, founding editor of The Journal of Investing and The Journal of Behavioral Finance, recounts how the field developed in the early years.
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