This module extends the analytical tools used for evaluating strategic and investment decisions learnt in other modules by deviating from the paradigm of rational decision making. It focuses on the implications of investor behaviour and capital market imperfections (such as limits to arbitrage) for investment management. The concepts you will cover on this module provide a foundation for value investing, arbitrage, asset management and opportunistic corporate finance. Insights from psychology and behavioural finance are used to complement traditional market frictions and explain the behaviour of capital markets.