ΤΟ ΜΟΝΤΕΛΟ ΤΟΥ ΟΡΘΟΛΟΓΙΚΟΥ ΕΠΕΝΔΥΤΗ ΣΤΟ ΔΙΚΑΙΟ ΤΗΣ ΚΕΦΑΛΑΙΑΓΟΡΑΣ

The model of rational investor in capital markets law Maria Grigoropoulou Lawyer, LLM Finance (ILF), LLM Corporate Law and Finance (UOA), Research Associate at the Institute for Law and Economics (University of Hamburg) ISBN 978-960-622-773-8 Abstract: In capital markets law the Efficient Capital Markets Hypothesis prevails. One of its main assumptions is that the actors in financial transactions are character- ized by their rationality, as this is defined by Rational Choice Theory. The prevailing model of rational investor is revised and enriched by Behavior Finance based on em- pirical studies’ findings. By taking into consideration these findings, regulators and legal practitioners are asked to adopt and interpret rules of capital markets law in a waythatwillsecurethemostefficientprotectionoftheboundedlyrational investors. COPYRIGHT All rights reserved. No part of this publication may be reproduced, stored in a re- trievalsystem,ortransmitted, inany formorbyanymeans,withoutthepriorpermis- sion of NOMIKI BIBLIOTHIKI S.A., or as expressly permitted by law or under the terms agreed with the appropriate reprographic rights organisation. Enquiries concerning reproductionwhichmaynotbecoveredbytheaboveshouldbeaddressedtoNOMI- KI BIBLIOTHIKI S.A. at the address below. DISCLAIMER The content of this work is intended for information purposes only and should not be treated as legal advice.The publication is necessarily of a general nature; NOMIKI BIBLIOTHIKI S.A. makes no claim as to the comprehensiveness or accuracy of the information provided; Information is not offered for the purpose of providing indi- vidualized legal advice. Professional advice should therefore be sought before any action is undertaken based on this publication. Use of this work does not create an attorney-client or any other relationship between the user and NOMIKI BIBLIOTHIKI S.A. or the legal professionals contributing to this publication. 23 Mavromichali str. | 106 80 | Athens | Greece T +30 210 3678 800 | F +30 210 3678 819 www.nb.org | info@nb.org © 2019, NOMIKI BIBLIOTHIKI S.A. LawPublishers inEurope