The work had as focus Behavior Finance's understanding, its evolution, main characteristics and application in the Brazilian context. The objective is to bring to the surface that new subject, so discussed internationally, but with low repercussion in Brazil. As methodology, the bibliographical rising was used, in other words, a coherent reformulation of the authors' ideas consecrated that they wrote on the theme. This work doesn't have intention of presenting results, but to expose what has been studied and published in that complex and controversial branch of the Finances. The great challenge is in explaining the subject, deciphering it in a clear way. The discussion regarding the theme is still far away from being solved, the studies it respect grows continually in the academic middle. The changes that this model proposes are expressive and relevant, because it involves the professionals that work with this subject type directly daily and it can change the effective model substantially.
Behavior Finance; over-reaction of the market; anomalies of the market; overconfidence; the investor's psychology
