Which of the followingstatements best exemplifies the difference between behavioral and traditionalfinance? Traditional finance:
　　A)does not take into consideration the behavioral aspects of investing which if considered would lead to better portfolio construction.
　　B)views portfolio construction from an historical perspective whereas behavioral finance incorporates modern up-to-date techniques in the portfolio construction process.
　　C)assumes investors make rational decisions whereas behavioral finance attempts to explain why investors act the way they do.
　　Solution：C
　　解析：Traditional finance assumes investors exhibit risk aversion and make unbiased, utility-maximizing rational decisions. Behavioral finance assumes investors employ some combination of traditional finance and psychological biases when making investment decisions and attempts to explain why investors make the decisions they do.
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